The article discusses the potential for Ethereum's price to break out of its wedge pattern and surge towards the $4,000 mark. It highlights a recent recovery from the $3,000 level and suggests a double-bottom reversal pattern, supported by bullish divergence in the 4-hour RSI. The derivatives market shows mixed signals, with a decrease in Open Interest but stable funding rates. US spot Ethereum ETFs have registered a net-zero flow. The article mentions that Ethereum remains trapped within a falling wedge pattern but notes the potential for a bullish resurgence. Fibonacci levels suggest potential targets at $3,693 and $4,108 for a recovery rally, while a bearish scenario could lead to a test of the $2,900 support level.



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