As of December 26, 2024, Ethereum is trading at $3,360, showing resilience after consolidating above the critical support level of $3,300. Analysts are closely watching a symmetrical triangle pattern on the 4-hour timeframe, which suggests a potential breakout.
Top analyst Carl Runefelt has set a bullish target of $3,980 if ETH breaks upward from this pattern. Conversely, a downward break could lead to a retracement to $2,920, testing key support levels.
The next few days are pivotal; Ethereum must hold above $3,300 to maintain bullish momentum. A breach below this level could trigger a deeper correction, while establishing a base above $3,350 could pave the way for a swift recovery and a challenge to the $3,550 resistance mark.
This critical zone is significant for market participants, as reclaiming it would signal renewed confidence and strength in Ethereum's market performance.