#Ethereum has broken the sideways movement that has been ongoing since May with significant volume. Following this, the rapidly rising cryptocurrency quickly surpassed the resistance levels of $3,000 and $3,450. Ethereum is showing signs of slowing down around the $3,700 region this week. Today, we can see that the partially retracing cryptocurrency may continue its upward movement as long as it stays above $3,450-$3,500. However, the average psychological level of $4,000 will be closely monitored as the most important resistance point for $ETH. The breaking of this level, which was tested three times last year during upward attacks, could lead to an even stronger trend. This could allow ETH to step into the $4,670-$5,500 range. The first condition for this will be for the cryptocurrency to establish a base around the $4,000 region with a weekly close. As long as ETH stays below this price, selling pressure will increase. In this case, it becomes important to remain above the Fib 0.786 and short-term EMA values. If Ethereum loses the support of $3,450 with daily closes; this time the correction could continue down to the $3,000 boundary.