Ethereum Don Break Resistance, Eye $3,700 Amid Market Recovery
Ethereum jump reach 3.89% after weekend correction, e break key resistance for hourly chart. Price climb reach about $3,650 and now e dey test $3,700 level as market dey recover big. Even with this rebound, di trading volume dey go down, e show say market fit go enter consolidation stage. Traders fit expect say e go dey trade sideways between $3,500 and $3,800 for midterm as volume trend still low.\n\nIf e fit close well above $3,700, e fit open road for more increase go $3,800, confirm say market still bullish. But if volume remain low, e fit make sideways trading last more and delay sharp breakout. To watch resistance levels and trading volume go important to know where Ethereum fit go next. Generally, market recovery dey support Ethereum price, but volume indicators dey make person dey careful about hope dem get.
Bullish
Di break wey pass di $3,650 resistance level and di test of $3,700 dey align wit di classic bullish patterns wey dem don see for previous Ethereum rallies, like April wey push past $3,500 wey lead to steady uptrend. Di 3.89% price rise show say buying interest don come back inside bigger market recovery. For short term, if dem confirm say price close above $3,700, e fit trigger more momentum and fit push price go $3,800. For history, similar breakouts for big timeframe don happen before fast gains. But di trading volume dey go down, e show say market dey consolidate, like before di times wey Ethereum just stop before e fit move up again. For long-term traders, if di volume continue grow after dem hold resistance well, e go show say bullish outlook still dey for ground. So, even though short-term gains depend on volume confirmation, di resistance break during market recovery mean say di impact on trading strategies na mostly bullish.