๐ After a mixed reaction last week, Ethereum (ETH) is gaining traction again as bulls return . It followed Bitcoin's pattern but found solid ground and remains bullish today.
๐ Ethereum started the month on a negative note but recently found key support at $3,200. After some indecisiveness, it bounced off the support and has risen by 7% in the last 24 hours, now hovering around $3,600 with slight resistance.
๐ช Despite minor obstacles, today's setup looks highly bullish, aiming for a strong rally with potential resistance at $3,700. A daily close above this level could attract more buyers.
๐ On the daily chart, the current bullish formation resembles the previous surge from $2,100 in February to around $4,100 in March. If history repeats, $5,000 could be the next target level.
๐ Buyers face hurdles, but the monthly market outlook remains super bullish. Breaking last monthโs high would confirm a trend continuation. ETH is near minor resistance at $3,723, with potential recovery to $3,900 and beyond to $4,094.
โ ๏ธ In case of a drop, key supports are $3,450, $3,202, and $3,056. The current spot price is $3,605, and the trend is bullish with high volatility.