Sui Media

Ethereum (ETH) is currently consolidating at a crucial level near $3,400**, having recently reclaimed the **$3,200 support. A successful hold above this level could signal the start of a new phase targeting higher resistances, while a failure could lead to a deeper correction. Key Levels to Watch: · Immediate Resistance: The $3,450–$3,500 zone. A daily close above this is needed to confirm bullish strength and target $3,650. · Major Resistance: The $3,800–$4,000 psychological level. · Immediate Support: $3,200–$3,250. This zone must hold to keep the short-term uptrend valid. · Major Support: $3,000–$3,050, which aligns with the 50-day moving average. Market Context: The recent rally was driven by rising TVL (Total Value Locked), increased activity in its Layer 2 ecosystems like Arbitrum and Optimism, and a general shift in sentiment. Ethereum continues to dominate as the leading smart contract platform, with its upcoming Pectra upgrade expected to improve user experience and wallet security, serving as a fundamental catalyst. Technical indicators like the RSI are neutral, suggesting consolidation before the next move. Short-Term Outlook: The path of least resistance appears cautiously bullish as long as $3,200** holds. A decisive break above **$3,500 could trigger a strong move toward $3,800. Watch for increased volume on either a breakout or a breakdown. #Ethereum #ETH #DeFi #Altcoins #Crypto $ETH #TrumpTariffsOnEurope #GoldSilverAtRecordHighs #GoldSilverAtRecordHighs