Ethereum (ETH) is gaining ground in the crypto market, slowly tightening its grip around the $3,400 resistance level. After a steady climb from early April, the second-largest cryptocurrency is showing signs of strength, with traders and investors alike watching closely for a breakout.
Price Trend and Resistance
ETH price has been trending upward, bouncing from the $3,100 zone and now approaching the $3,400 mark for the third time in two weeks. This level has become a psychological and technical barrier, with repeated rejections. However, bulls are gaining confidence. A decisive move above $3,400 could trigger a surge to $3,500 and possibly higher in the short term.
If momentum stalls, Ethereum could revisit $3,250 or $3,100 for support.
Key Drivers of the Uptrend
- Ethereum Upgrade Effects – The recent Dencun upgrade, particularly EIP-4844 (proto-danksharding), has improved the network’s efficiency. Lower gas fees and better scalability have reignited interest among developers and users.
- Increased Activity Across Sectors – DeFi, NFT platforms, and L2 networks like Arbitrum and Optimism continue to build on Ethereum, contributing to higher on-chain volume and overall utility.
- Bullish Sentiment Across Crypto – With Bitcoin holding strong above $70K, investor appetite is shifting toward altcoins. Ethereum, being a leader in smart contracts and dApp development, is often the first beneficiary of renewed market optimism.
What Comes Next?
Ethereum is at a pivotal point. A daily close above $3,400 could confirm a breakout, bringing $3,500 into play. From there, eyes will shift to $3,650 as the next major target.
While the breakout isn’t guaranteed, ETH’s strong fundamentals and technical setup suggest that it’s only a matter of time before it makes a decisive move.
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