Ethereum has surged past $3600 for the first time since gully, singling a string of bullish recovery. As of November 28, Ethereum (ETH) is trading, at around 3500 marking a 15% rise in just seven days.
This price is largely driven by the upcoming altcoin season and Bitcooin’s impressive run, with BTC nearing the $100,000 mark. Ethereum’s rise above $3600 comes to catch up with Bitcoin’’s gains.
The market is now watching closely as ETH eyes the next milestone of $4000. Whale activity suggests ongoing accumulation, with address-holding ETH increasing in recent days. However ETH fails to hold above $3220, technical analysis predicts a potential drop to $3,033.
The key resistance level now sits around $3700. A successful breakout above this could open a path to $3547, followed by the coveted $4000 level. However, with increasing liquidation risk in the market, sharp price movements could trigger major volatility.
Investors and traders should stay alert for any sudden shifts, as leveraged positions are at risk if ETH breaks significantly above $3700. With altcoin preparing to take the spotlight, Ethereum’s bullish momentum could continue.
However, the market remains unpredictable, and caution is advised as Ethereum navigates through these volatile price levels.
Also Read: Analyst Predicts Ethereum Could Hit $20K Next Year
