Ethereum Price Surges to $3600: Can It Reach $4000 Next?

Ethereum has recently broken past the $3600 mark, marking a significant uptick since June. As of November 28, Ethereum (ETH) is trading around $3580, showing a 15% increase in just a week.

This surge in price is largely fueled by excitement surrounding the upcoming altcoin season and Bitcoin’s impressive performance, as BTC approaches the $100,000 milestone.

Market observers are closely monitoring Ethereum as it sets its sights on the next target of $4000. Whale activity suggests continued accumulation, with ETH holdings in addresses on the rise. However, if ETH fails to hold above $3220, technical analysis indicates a potential drop to $3,033.

The key resistance level is currently in the $3800 – $3900 range. A successful breakout above this range could pave the way for a climb to $4000 and potentially establish a new all-time high. Yet, with a rising risk of liquidation in the market, sharp price swings may lead to increased volatility.

Investors and traders should remain vigilant for sudden changes, especially as leveraged short positions are at risk if ETH surpasses $3700. With altcoin season on the horizon, Ethereum’s bullish momentum could persist.

But as always, the market is unpredictable, and it’s essential to proceed with caution as Ethereum navigates through these volatile price levels.

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