The current movement of Ethereum bears resemblance to that of Bitcoin. In my opinion, Ethereum is poised to attempt a breakthrough towards the $3350 area.
Should this breakthrough be successful, my target for Ethereum would be $3700. Presently, the pattern is forming a flag pattern.
However, if Ethereum fails to penetrate and sustain above the $3350 area, it could spell trouble as Ethereum may plummet back to $2950 or even $2700 to $2780, representing the worst-case scenario.
Regarding Ethereum's case with the SEC, I believe its effects will not linger or endure as long as XRP's case did, as Ethereum is likely to have ETFs in the future.
What are your thoughts? Feel free to share your opinions in the comments. Once again, this is solely my opinion and analysis and is subject to change depending on future conditions.
