Analyst: If Ethereum (ETH) breaks through $3800, it may return to the $4000 range.

Gate News bot message, Ethereum (ETH) has rebounded between the support level of 3640 dollars and 3660 dollars, and is currently stable at 3720 dollars. Analysts believe that if ETH breaks through 3800 dollars, it may return to the 4000 dollar region.

The Relative Strength Index (RSI) is moving upwards from neutral, indicating that buying interest is increasing. The Bollinger Bands are widening, which may signal upcoming volatility and price movements. A drop below $3640 could lead to prices dropping to around $3550, but maintaining the current range support keeps bullish expectations.

For those who pay attention to large market-cap cryptocurrencies with strong use cases and market share, ETH still has great potential. Breaking through the resistance level may signal a strong rebound, especially considering its leading position in decentralized finance (DeFi) and non-fungible tokens (NFTs).

Source: Coindoo

ETH-3.23%
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