ETHEREUM (ETHUSD): Technical Outlook

Many questions regarding Ethereum have been circulating, and I have provided a detailed technical analysis.

About a month ago, the market hit a significant daily resistance level and experienced a negative rebound.
Currently, the price is testing a strong support level horizontally.

By closely examining the chart and observing the price action, a falling trend line can be identified, indicating a classic bullish accumulation pattern.

The price is forming higher lows while respecting the descending resistance trend line.

I anticipate that the next bullish movement will begin after breaking above the resistance trend line, with a daily candle closing above it to confirm the breakout.
A bullish continuation could potentially lead to a target of 4000.

On the other hand, a bearish breakout of the horizontal support level may drive the market down to a support level of 2700.