#ETHBreakout3.5k
Ethereum's🧞 breakout above $3,500 has sparked bullish sentiment, with potential for further gains. Here's what's possible and what hurdles🚩 it may face:
*↪️↩️Possibilities:*
🔰*Breakout to $4,000*: Analysts predict a near-term push to $4,000, driven by whale demand and market structure.
🔰*Long-term bull cycle*: A successful breakout could mark the start of a major bull cycle, potentially pushing ETH beyond $10,000.
*🔃Hurdles:*
🔰*Liquidation risks*: Over $46.65 million in leveraged positions are concentrated between $3,800-$4,000, which could lead to volatility.
🔰*Network growth and user activity*: Drastic drops in these areas weaken the rally's foundation.
🔰*Resistance levels*: ETH needs to break above $3,650-$3,700 to confirm bullish momentum.
✔️Current price is around $3,639, with support at $3,490-$3,500 and resistance at $3,650-$3,700 .📲