Ethereum has successfully bypassed the $3,670 resistance, showing a strong potential to break beyond the $4,000 mark. This comes after three unsuccessful attempts since March 2024. Current technical analysis points to a bullish inverse head-and-shoulders pattern, which could signify a promising trend reversal for Ethereum.
Analyst Daghan suggests that if Ethereum manages to break above $4,150, it may see a surge up to $8,047. Ethereum's price movement is currently being supported by its position within an ascending parallel channel, reinforcing the optimism for potential growth.
