Ethereum has just recorded a strong growth of over 5%, surpassing many important resistance levels and showing positive signals in the short term. After finding solid support around the $3,650 level, ETH has initiated a new recovery and is currently trading steadily above the $3,800 mark, indicating that it will soon challenge the $3,920 area and aim for the $4,000 mark in the near future.

Recent Developments of Ethereum

  • Strong recovery: After hitting the bottom around the $3,650 area, ETH bounced back, surpassing resistance levels of $3,720 and $3,750. The strong upward trend pushed the price up to $3,927 before entering a consolidation phase.

  • Technical signals: On the hourly chart of the ETH/USD pair (data from Kraken exchange), a bullish trend line is forming with support near the $3,820 area. Additionally, ETH is currently trading above the 100-hour simple moving average (100-hour SMA), reinforcing the bullish outlook.

  • Important resistance levels:

    • $3,920 – The nearest resistance currently being tested.

    • $3,950 – The next hurdle before the $4,000 mark.

    • $4,000 – A psychological resistance level; if surpassed, it could open opportunities to rise to $4,220 and even $4,350 - $4,500 in the short term.

Bullish Scenario – The $4,000 Target is Closer than Ever

If ETH can decisively surpass the $3,920 mark, the bullish trend will be confirmed and it is very likely that this coin will aim to test the $4,000 mark. Breaking this threshold will be an extremely positive signal, paving the way for ETH to reach higher levels such as $4,220 and $4,350 in the near future.

Bearish Scenario – What Happens If ETH Cannot Surpass $3,920?

If ETH cannot surpass the $3,920 mark, the price may adjust downward again. Important support areas to watch include:

  • $3,820 – The nearest support level coinciding with the upward trend line.

  • $3,800 – A strong psychological and technical support level.

  • $3,735 and $3,680 – If it breaks below $3,800, the price may test these areas.

  • $3,650 – The final support zone before the current upward trend is broken.

Technical Indicators

  • Hourly MACD: Strongly increasing in the positive zone – supporting the bullish trend.

  • Hourly RSI: Has exceeded the 50 mark – indicating that upward momentum is still dominant.

Summary

Ethereum is in a positive technical state with many signals supporting the price increase. As long as ETH remains above the $3,800 support area and continues to maintain current momentum, a breakout above $4,000 is entirely feasible. However, investors should also pay attention to lower support areas in case of a short-term adjustment.