Ethereum has reached its highest levels since June, hitting a local high of $3,688, exciting investors and analysts who predict further surges. Ethereum aims to break above yearly highs, potentially sparking a more aggressive rally.
Crypto analyst Carl Runefelt highlights Ethereum's current resistance as critical. A successful breakout could propel ETH to $3,900, solidifying its bullish momentum. Ethereum's price action is unpredictable due to strong market sentiment, keeping investors eager for new milestones.
Ethereum is leading the altcoin market rally, drawing trader and analyst attention. A breakout past the critical resistance could trigger significant gains, potentially surpassing yearly highs above $4,000. Ethereum's performance will shape this bullish market cycle.
Currently trading at $3,600, Ethereum's next direction depends on maintaining this level. Sustaining above $3,600 could lead to yearly highs at $4,080. Failure might result in a correction, with support at $3,400. Market sentiment is cautiously optimistic, viewing Ethereum's action as pivotal for the altcoin market.
