#ETHBreakout3.5k Ethereum surpasses $3,500 - What will be the next destination?
Ethereum ($ETH) has officially surpassed the $3,500 mark, marking an important milestone in the current bullish cycle. The question is: Can $ETH continue to rise and aim for higher levels? Below are some technical analyses and fundamental factors to watch.
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📈 1. Technical analysis: The next resistance levels
$3,800 - $4,000: This is a strong resistance area formed since early 2022. If $ETH decisively breaks through this area with high trading volume, it is likely to pave the way towards the previous peak.
Psychological mark $4,500: Before reaching the ATH peak in 2021 (~$4,800), ETH was rejected at the $4,500 area. This is a significant psychological barrier.
ATH $4,867 (previous peak 2021): If ETH breaks this area, it may enter a 'price discovery' phase with the potential to reach new all-time highs such as:
$5,500
$6,000+
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🔥 2. Factors supporting the uptrend
Spot Ethereum ETF: After the approval of Bitcoin ETF, many investors expect ETH to be the next candidate. If approved by the SEC, the influx of money into ETH could surge.
Upgrade Proto-Danksharding (EIP-4844): Optimizing fees and scalability of Ethereum - a positive factor for both developers and users.
DeFi cash flow and staking: Nearly 27 million ETH are locked in staking. The reduced circulating supply will create upward price pressure if demand continues to rise.
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⚠️ 3. Risks to monitor
Macroeconomic market sentiment: If the Fed continues to maintain high interest rates, speculative cash flow into crypto could be restrained.
Short-term profit-taking: The area of $3,800–$4,000 may be where many old investors take profits, causing adjustment pressure.
