The article discusses the positive price action and potential upside rally for Ethereum (ETH). Technical analysis suggests that ETH has broken out of a bullish falling wedge pattern and sentiment has shifted from a downtrend to an uptrend. If ETH closes above the $3,400 level, it could soar by 20% to reach $4,100 in the future. The Relative Strength Index (RSI) indicates that ETH has enough strength to sustain upside momentum. Although long-term holders have been dumping their assets, traders are betting strongly on the long side, indicating a bullish outlook. On-chain metrics suggest that bulls are dominating the asset and could help ETH breach the resistance level of $3,400. ETH is currently trading near $3,350, with a 1.50% price surge and a 10% increase in trading volume.



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