Ethereum is currently experiencing positive price action, trading around $3,700. The cryptocurrency has shown an 8% increase over the past week, indicating growing investor interest and momentum.
Technical analysis reveals that Ethereum is moving within an Ascending Channel pattern, which has been developing over multiple years. This pattern suggests a bullish outlook for Ethereum's price trajectory moving forward.
Analyst Ali Martinez has set a mid-term price target for Ethereum at $6,000, while also identifying a long-term target of $10,000, indicating a positive sentiment for Ethereum's future growth potential.
Currently, Ethereum has a strong support level identified at $3,300, which provides a safety net for its price. Immediate resistance is noted near $3,920, which Ethereum could break through if positive momentum continues.
