Ethereum has exited its third major consolidation phase and is trading above the crucial support level of $3,473.
The immediate resistance zone is identified between $3,550 and $3,825. A decisive breakout above this zone is viewed as critical for confirming sustained upward momentum.
Significant whale activity was observed, including deposits exceeding 26,000 ETH (approximately $93.6 million) to exchanges. Arthur Hayes also moved 2,300 ETH to Binance and B2C2, activities interpreted as indicators of market stabilization.
Technical indicators reinforce bullish sentiment. The price has held above the 0.236 Fibonacci retracement level at $3,511, and the RSI reading sits at 54. These factors suggest potential for positive momentum, contingent on clearing the $3,825 barrier.
Notably, liquidations have decreased sharply, with over $113 million exiting the market in the past week. This substantial outflow signals a shift towards accumulation and renewed buying interest.
Should Ethereum decisively breach the $3,550–$3,825 resistance range with increasing volume, analysts predict a strong push towards challenging previous highs near $3,950. The long-term technical outlook points towards a potential long-term rally targeting the $30,000 level.