Welcome to this quick Ethereum update. I'll keep it short and simple. Ethereum is very bullish and my EOY target for Ethereum is 10k but let's analyze it in a shorter time frame.
Let's get to the chart. Ethereum currently trading above $3400. Here is very strong support at $3340-$3450 which is most likely to be held. If this support is held then it is most likely that Ethereum can reach up to $4000. Also, rsi shows a bullish divergence in 4hr timeframe. So IMO Ethereum should bounce from here.
If this support is broken then our next two supports are around $3000 and $2500.
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This is not financial advice. DYOR before investing.
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