Ethereum’s price has encountered intensified buying activity, driving a significant surge towards a pivotal resistance zone, notably the previous major yearly high at $3.6K.
A breakthrough above this crucial level could set the stage for Ethereum to establish a new all-time high (ATH) in the near term.
Technical Analysis
By Shayan
The Daily Chart
A detailed examination of the daily chart underscores Ethereum’s robust bullish momentum, as the price undergoes a substantial and impulsive upward movement, reaching the critical resistance area represented by the prior major yearly high of $3.6K.
Despite the formidable barrier at $3.6K, Ethereum’s overall outlook remains highly bullish, with market participants largely anticipating a successful breach of this level in the coming weeks.
Such a breakthrough would likely signal the expansion of the uptrend towards Ethereum’s ATH, positioning the price for a new high in the medium term. However, until such a breakout occurs, the $3.6K pr
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