#Ethereum maintains stability above the critical support at $3,540, showcasing a strong market foothold.
ETH has established a solid base, outperforming Bitcoin and surpassing the $3,730 mark, initiating another upward movement.
Currently consolidating above $3,900, Ethereum indicates stability and potential accumulation before further upward momentum.
ETH eyes an upside break above the psychological resistance level of $4,000, potentially signaling a bullish continuation.
On the weekly chart, Ethereum presents a significant bullish engulfing candle, poised to breach the $4,000 mark, indicating robust bullish sentiment.
May witnessed a remarkable bullish rally for Ethereum, with a surge from $2,860 to $3,900, marking a substantial 36% increase in price.
Ethereum's daily chart reflects a positive technical breakthrough with the breach of the bullish flag pattern, indicating a possible extension of the upward trajectory.
According to Coingabbar Prediction, Breaking through the $4,090 resistance could fuel further bullish momentum, aiming for $4,500 and eventually $5,000.
Failure to surpass the $4,000 psychological barrier could trigger a pullback, potentially retracing towards support levels of $3,550 to $3,250.
KEY LEVELS :
RESISTANCE LEVEL : $3,980-$4,090
SUPPORT LEVEL : $3,820-$3,700
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
