Summary: Ethereum Ready For $3,800 Reclaim Despite Rejection – Third Time’s The Charm?

Ethereum (ETH) finds itself at a pivotal crossroads, having achieved a remarkable nearly 70% rally over the past month, pushing its price to a yearly high of $3,860 before facing a familiar rejection. Now, the "King of Altcoins" is making its third assertive attempt to reclaim the critical $3,800 psychological barrier, drawing keen attention from market participants. Analysts offer diverging views on Ethereum's immediate trajectory. Ali Martinez points to the $3,825 level as the most formidable resistance, where a significant volume of 1.48 million ETH was acquired by 2.82 million addresses. Conversely, robust support lies around $3,490, a price point where 4.18 million addresses collectively hold 3.53 million ETH. The interaction between these key levels is expected to dictate ETH's next significant move. Some experts, like Andrew Crypto, suggest a healthy 10-15% correction might be on the horizon, potentially pushing ETH back to its yearly opening price between $3,300 and $3,400 before a renewed ascent. However, others, including Crypto Bullet and Merlijn The Trader, see striking resemblances to Ethereum's historical breakouts, particularly its 2017 and 2019-2020 patterns. They predict that a decisive breach of the current resistance could trigger a parabolic rally, potentially propelling ETH towards an ambitious $8,000-$10,000 cycle top. As Ethereum currently trades around $3,698, reflecting a 21% weekly increase, the cryptocurrency market eagerly anticipates whether ETH will finally shatter its resistance, replicating past explosive performances, or if a temporary pullback is in store before its grand reclamation.