Ethereum's (ETH) next move is uncertain, but analysts predict a potential breakout. The current price is around $3,111, with a 3.31% increase. Here's what to expect:
## Key Levels to Watch
- Support: $2,800-$2,900, a high-volume node and Fibonacci retracement level
- Resistance: $3,500-$3,650, a crucial zone for a potential uptrend
## Market Sentiment
- Bullish Divergence: Ethereum's daily RSI shows bullish divergence, signaling potential upward momentum
- Ascending Triangle: The pattern suggests consolidation before a potential breakout, with a 68-77% chance of breaking upward
- Institutional Interest: 21Shares launched two US crypto index ETFs, including Ethereum, indicating growing institutional adoption ¹ ² ³
## Potential Scenarios
- Upside: A breakout above $3,650 could lead to a rally toward $4,000-$4,500
- Downside: Failure to hold above $3,000 might lead to a test of $2,800-$2,900 support ³ ⁴ ⁵$ETH
