For the first time in months, Ethereum (ETH) has surged past the $3600 mark, showcasing significant growth amid favorable cryptocurrency market conditions.
Ethereum's Rise to $3600
Driven by the upcoming altcoin season and Bitcoin's impressive surge, Ethereum climbed above $3600 as BTC approaches the $100,000 milestone. As of November 28, ETH traded around $3500, reflecting a 15% increase over seven days.
Technical Analysis and Resistance
The market is now focused on the next target of $4000. Technical analysis suggests a potential drop to $3,033 if Ethereum fails to hold above $3220. The key resistance level is around $3700, and a successful breakout could pave the way to $3547 and the coveted $4000 level.
Market Risks and Outlook
With increased liquidation risk, sharp price movements could trigger significant volatility. Investors and traders should stay alert for sudden shifts, as leveraged positions could be at risk if Ethereum breaks significantly above $3700. Although bullish momentum persists, the market remains unpredictable.
Ethereum continues to exhibit bullish momentum, yet the market remains volatile. A breakout above $3700 could serve as a springboard for further growth towards $4000.
