Ethereum (ETH) is showing strong bullish momentum, recently testing higher resistance zones as investor confidence in altcoins grows. đ
New High Potential: ETH is targeting a breakout above recent resistance near $3,400â$3,600. If momentum continues, ETH could push toward $3,800â$4,000 in the coming weeks.
Support Levels: Strong support sits around $3,000â$3,200, where buyers are actively defending dips.
Catalysts:
Ethereum ETFs gaining traction in the U.S. and other markets.
Increased adoption of Layer-2 networks (Arbitrum, Optimism, Base) reducing gas fees and improving scalability.
Strong on-chain activity in DeFi and staking, with more ETH locked.
Risks: Macro uncertainty, Bitcoin volatility, and potential regulatory pressure could slow ETHâs move to a new high.
đ Outlook: If Bitcoin continues its uptrend and ETH maintains strong demand, a new yearly high above $4,000 looks achievable, with long-term potential toward the $4,500â$5,000 zone.
Would you like me to make a short support & resistance chart for ETHâs new high targets?