#ETHBreakout3.5k Ethereum's current price is $3,642.13, showing a 7.86% increase, which suggests it's getting close to the $3.5k breakout mark. In fact, recent news indicates Ethereum is gearing up for a potential big move, with some analysts predicting it could break past $3.5k and even reach $3,700 to $4,100 based on measured move theory.
*Key Factors Driving the Breakout:*
- *Increased Open Interest*: Open interest in Ethereum has peaked, indicating a surge in trading activity and potential for further growth.
- *Bullish Market Structure*: The daily chart shows a clear breakout above the handle structure of a large cup and handle pattern, confirming a structural bullish reversal.
- *Strong Support Base*: Ethereum's price is trading above the 20/50/100/200 EMA cluster, providing a strong dynamic support base in case of short-term pullbacks.
*Potential Targets:*
- *$3,700-$4,100*: Projected targets based on measured move theory, indicating potential for significant growth.
- *$3,530*: A possible target if Ethereum clears the $2,800 mark.
