ETHUSD (H4) : NEXT BULLISH TREND MAY REACH TO 3500.00$??????????

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ETHUSD (H4) : NEXT BULLISH TREND MAY REACH TO 3500.00$?????????? ETHUSD

The chart for ETH/USD (Ethereum to US Dollar) which I had analyzed shows a detailed technical analysis. Initially, there is a little bit downward trend, followed by a consolidation phase within an “Accumulation Range.” This range highlights two key points in the bullish range: a “Reaction High Target” at the top and a “Low Risk Target” at the next top. The chart then projects future price movements with an upward trajectory, indicating a potential rise to a “High Risk Target,” followed by a decline back into the accumulation range, and then another ascent towards a higher “TARGET” zone. The volume bars at the bottom show increased trading activity, suggesting heightened interest in ETH/USD. 📈💹 ETHUSD

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Ethereum (ETHUSD) is poised for a significant rise from $2,535 to $3,500. Technically, the Relative Strength Index (RSI) indicates oversold conditions, suggesting a potential upward correction. Moving averages, particularly the 50-day and 200-day, are converging, hinting at a bullish crossover. Fundamentally, Ethereum’s upcoming network upgrades and increasing institutional adoption are strong catalysts. The growing DeFi and NFT markets further bolster demand for ETH, supporting a price surge. Additionally, macroeconomic factors like a weakening dollar and favorable regulatory developments enhance Ethereum’s bullish outlook

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Ethereum (ETH/USD) reveals more of a longer-term consolidation pattern as bulls have failed to make higher highs and higher lows on a consistent basis. Shorter-term price action tells the same story, with ETH failing to capitalize on the same upward momentum experienced in bitcoin ahead of last weekend. The 200-day simple moving average comes in as immediate support, with the 50 SMA and $3,375 presenting resistance.

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Current situation of the ETHUSD

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The analyst claims that the main beneficiaries of Ethereum's burn mechanism—which lowers the total amount of ETH in circulation by burning base and blob fees—are non-stakers.

Non-stakers are, however, benefiting less from these burning because blob fees are frequently at $0 and base fee generation is declining. However, non-stakers do not immediately profit from priority fees or Miner Extractable Value (MEV), which are transferred to validators and staker instead of being destroyed.

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