Summary
TLDR: Ethereum price rose above $3,500 then fell slightly, reaching a high of $3,522. Technical analysis suggests a bullish trend with potential for further increase to $4,550 if it breaks resistance at $3,640. Failure to do so could lead to a 13% drop to $3,000. Analysts predict prices ranging from $5,500 to $10,000 for Ethereum.
Key Points
1. The Ethereum (ETH) price increased above $3,500 on February 29 but has fallen slightly since.
2. Ethereum increased above a confluence of short- and long-term resistance levels during the upward movement.
3. The weekly time frame technical analysis shows the ETH price has been trading inside a long-term ascending parallel channel since June 2022.