Ethereum is still holding above $3,650 for now.
This level is important because it aligns with a key order block and the 4-hour EMA50.
That’s one of the reasons ETH has bounced back sharply after testing $3,550 over the weekend.
But if Ethereum loses the $3,650 level and breaks below both supports, the next target could be around $3,300.
On the upside, we’re watching $3,750.
If ETH breaks and holds above that, a move toward $4,000 could be back on the table and with enough momentum, even $6,000 isn’t out of reach this cycle.