Technical analysis by melikatrader94 about Symbol ETH on 10 hour ago

Hello guys! Ethereum has been rallying strongly within a well-respected ascending channel, pushing past key levels and now approaching a major resistance zone around $3,900–$4,000. According to the chart structure, it looks like price could soon react from this resistance, leading to a pullback into the $3,000–$3,200 demand zone, which aligns with the midline of the channel. This would be a healthy correction before potentially continuing the bullish trend and attempting a clean breakout toward new highs. ETH is still bullish, but it may need to retest support before continuation. Watch for a bounce from the $3,000–$3,200 zone for a high-probability long opportunity.