Ethereum has seen a significant surge, rising by 128% over the past year and an astonishing 804,027% since its inception at $0.43 on Oct. 20, 2015. Although there was profit-taking around the $3,600 mark on Feb. 29, attempts by bears to initiate a pullback were unsuccessful, indicating strong buying interest with each minor dip. The decision by the Ethereum Foundation to liquidate $13 million worth of Ethereum has raised concerns among investors, as such actions are often seen as precursors to market shifts. While market pullbacks are normal during an uptrend, they can prompt anticipation and uncertainty as investors await the market’s next move.
At the time of writing, ETH was trading at $3,620.
ETH after giving a breakout above the long held resistance of $2,146 rallied up to $2,717. The asset faced stiff resistance at the recent highs and failed to cross the key level of $2,750. The prices witnessed a correction and dropped 20% to $2,168. The asset retested and bounced again from the key level of $2,150 and broke the key levels of $2,750 & $3,000 by forming a ‘Higher High Higher Low’ pattern and made the high of $3,655. ETH has a strong resistance at $3,750 and $4,000 whereas $3,300 and $3,000 will act as strong support levels for the asset.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $3,000 | $3,300 | ETH | $3,750 | $4,000 |
