#ETH Back to $3,800#

Ethereum has surged again! The $3,800 level has been tested once more, and this rise has created a new wave of excitement in the market along with the breaking of short-term resistances.

Technical Appearance:
• Support: $3,600 – has become a psychological buying level.
• Resistance: $3,880 – the area where it was rejected during recent rallies.
• Indicators:
• RSI: at 61 levels and accelerating upward.
• MACD: A bullish crossover occurred.
• Volume: Increasing trading volume supports the rise.

Fundamental Reasons:
• ETF speculations and the growth in Layer 2 projects are boosting ETH.
• Institutional investors repositioning is driving the price up.

Strategy Proposal:

Scenario 1 – Ongoing Rise:
If the price breaks the $3,880 level, long positions may be considered with a target of $4,050.

Scenario 2 – If a Correction Comes:
The $3,600 – $3,500 range could be a strong buying opportunity. Positions taken from here can be reassessed with a target of $3,800.

ETH is back in the spotlight along with Layer 2 projects. The next breakout will determine the direction of the market. Stay tuned!