The Ethereum (ETH) cryptocurrency has been trading sideways below the $3,500 resistance level for over a month. However, on-chain data suggests that a potential breakout may be imminent. The holding time of ETH coins transacted over the past seven days has increased by 55%, indicating stronger investor conviction and reduced selling pressure. Additionally, ETH's funding rate has remained positive, reflecting steady demand for long positions among futures traders and indicating bullish sentiment. If ETH breaks above the resistance at $3,516, its price could climb toward $3,684. If the bullish trend stalls, it could fall back within the range or drop towards support at $3,210.



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