If Ethereum can really rise to 3600, perhaps the altcoin season will come.

Analysis: Ethereum is forming a bullish flag, a breakthrough of 3600 USD is expected.

The daily chart of Ethereum is forming a 'bull flag' pattern, with prices consolidating in the range of 2400 USD to 2750 USD, and the target resistance level is between 3000 USD and 3100 USD. If it breaks through 2600 USD, it may look towards 3600 USD.

In addition, Ethereum is attempting to reclaim the middle line of the 2-week Gaussian Channel. Historically, ETH has experienced significant rises above this indicator, such as a 93% increase to 4000 USD in 2023, and a staggering 1820% increase in 2020. Although there was a failure in August 2022, crypto trader Merlijn pointed out that the 50-day SMA and 200-day SMA formed a 'golden cross,' which may further enhance ETH's breakthrough momentum.

However, trader XO warns that if ETH fails to break through 2800 USD in the short term, it may enter a consolidation period for several weeks. Short-term support levels are around 2150 USD and 1900 USD. $ETH