Ethereum's native token, Ether (ETH), has recorded notable gains, trailing Bitcoin (BTC) in the current market cycle. However, Ethereum is now approaching a resistance level at $3,500.
As ETH nears this crucial level, there are concerns about potential liquidation risks, which could stall bullish moves. Blockchain analysis indicates that crossing $3,500 might prove challenging.
The market dynamics show a surge in derivatives inflow, suggesting heightened trading activities. These conditions could impact ETH’s price trajectory in the upcoming period if bulls fail to push beyond the resistance.
