We have recently recorded a critical breakthrough of the resistance level at $3,700, which is considered an important shift in the market structure and the overall market trend, not just for Ethereum. Technical analysis shows a Bullish Flag pattern on the weekly frames, indicating a strong upward movement towards $3,900.
It will face strong resistance at $4,000; if it surpasses this, it will open the door for significant upward movement and may trigger a bull season for altcoins.
Calculated technical supports around $3,600–$3,500, any rebound near them could serve as a 'buy' opportunity.