🔥 $ETH rises to $3,699 after correction: Does it resume bullish trend towards $3,820+?
📊 Current price and technical structure
Current price: $3,699.14
Intraday range: $3,585.77 – $3,757.14
ETH recovers after a pullback from $3,757, remaining above the critical support at $3,600. The medium-term bullish structure remains intact, with possible consolidation within the current channel.
⚙️ Key factors
Continuous inflows to spot ETFs with nearly $534M yesterday and over $8B accumulated, sustaining institutional demand.
On-chain evaluations show a potential “realized price” indicating possible market overheating if ETH surpasses certain key levels.
The technical structure forms a Descending Broadening Wedge, an extremely bullish pattern that often anticipates powerful breakouts if the resistance breakout is confirmed.
🔧 Technical level of the day
📌 Important support: $3,600–$3,640
📌 Immediate resistance: $3,757–$3,820
🎯 Area to watch: exceeding $3,757 with volume opens the path toward $3,820–$4,000+; below $3,585 could imply a pullback.
🌐 Institutional outlook / macro view
Ethereum continues to consolidate as a key institutional asset: staking, tokenization, and ETF demand position it as “productive digital gold.” Experts foresee upcoming targets between $4,000 and $10,000 if momentum is maintained and staking ETFs are approved.
Will you take advantage of the pullback to buy ETH below $3,600 or wait for confirmation of the bounce above $3,700? 👇
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