Technical Analysis: $ETH/USDT Showing Bullish Recovery
The $ETH/USDT pair is demonstrating strong bullish momentum, currently trading at $3,921.17, reflecting a 2.07% increase over the past 24 hours. After dipping to a daily low of $3,677, Ethereum has regained upward momentum and is approaching the critical resistance level at $3,956. The chart shows a solid recovery from previous declines, with buyers stepping in at key support levels. The current bullish candlestick indicates continued demand, making Ethereum a token to watch closely.
If ETH can break through the $3,956 resistance, the next target may be the psychological $4,000 level or even higher. However, traders should monitor the support at $3,867 to ensure the uptrend remains intact. With a 24-hour volume of 818,776 ETH, the increased market activity suggests Ethereum is preparing for a significant move, positioning it as a key player in the ongoing market rally.