Ethereum(ETH): Will We Head Towards $3500 Soon?

We are back with the ETH coin, where we see that after that major breakout near $2150 we had, a clean re-test price seems to be ready for another bullish movement sooner or later.

As we are getting closer to the close of the yearly candle price, it seems to act like a "calm before the storm," where the price is making minimal moves but still teasing both buyers and sellers.

We are looking at a bigger picture here for a potential bullish movement after breaking that upper resistance line (orange line). Once. we break and secure it we should be good for long-term movement towards $3500

Comment:

ETH on a smaller timeframe is showing us some interesting patterns as well. As we see, price is being held mostly by that upper, smaller resistance, which will determine the next major movement here.

Breakout + Re-Test = Bullish Movement
Rejection + Re-Test = Bearish Movement

Comment:

Taking a peek at the ETH coin on a weekly basis, we see a nice dominance of it where, while BTC is tanking, ETH is pushing!!

With more and more rumours about Ethereum ETF, prices seem to follow up the movement of BTC (before the ETF)

If we see this kind of move, we might see ETH near $3500 from where we are seeing a very high probability of downward movement or correctional movement happening!

Swallow Team