Ethereum is currently demonstrating strong upward momentum, maintaining its trading value above $3,770 and the crucial 100-hourly SMA. A significant break above the bearish trend line at $3,870 has occurred on the hourly chart.
The price is confronting resistance around the $3,890 level. A major support zone has been established at $3,775.
If the price can surpass the resistance at $3,980, there is potential for targeting the $4,000 mark, suggesting a continuation of bullish market conditions for Ethereum.
