Ethereum (ETH) is showing renewed strength after reclaiming the $3,400 level, with multiple analysts suggesting a potential breakout in the coming week. According to chart analyst Daan Crypto Trades, the $3,365 zone, which aligns with August’s local low, is acting as crucial support. If this level holds, bulls may drive a short-term recovery toward the $3,500-$3,600 range.
Ethereum is currently trading around $3,442, consolidating along a rising trendline visible in intraday charts. Analyst Altcoin Gordon noted that ETH’s hourly structure “looks ready to go vertical,” signaling a buildup of momentum as sellers weaken.
Daan Crypto highlights $3,500 as the next critical resistance to reclaim. A successful move above this level could allow ETH to fill the inefficiency gap formed during its sharp correction earlier this month. On the flip side, a break below $3,365 could push the price back toward the $3,100-$3,200 range, marking another liquidity test near prior lows.
Historically, such structural recoveries have preceded strong rallies in Ethereum, especially when accompanied by low volatility and declining sell pressure, both present in current market conditions.
While the broader crypto market remains cautious following Bitcoin’s pullback toward $102,000, Ethereum’s rising trendline suggests gradual accumulation. Trading volume remains moderate, and derivatives funding rates have normalized, both signs of a cooling speculative environment.
