Will ETH Hit $3,800 or Crash Below $3K? Key Level Ahead

 Key Insights:

• ETH must reclaim $3,500 to target $3,800, with strong resistance slowing current momentum.
• Rejection near $3,500 could drag ETH below $3,000, testing support between $2,845 and $2,900.
• Short liquidations may trigger near $3,300, setting up a possible squeeze if price climbs quickly.

Ethereum was trading around $3,214.99, up 1.8% in the last 24 hours. Over the past week, the price has dropped 6%, showing continued uncertainty.

Charts show Ethereum moving sideways just below $3,500, a level that held as support in the past and now acts as resistance. 

According to Ted, 

“The next crucial level to reclaim is the $3,500 zone, as it’ll push Ethereum above $3,800.” 

A close above this level could open the door toward the $3,700–$3,800 area.

Below $3,000 Could Be Swept If Rejected

If Ethereum fails to clear $3,500, the chart shows possible downside toward the $3,072 support. This level is key for bulls to hold. If lost, a drop toward the $2,845–$2,900 zone could follow.

Ted added, 

“If ETH gets rejected, I think it’ll sweep the liquidity below $3,000.” 

The setup reflects this view, with visible demand zones below current price. Traders are watching for signs of weakness at $3,200.

$3,300 Tagged as Short Squeeze Trigger

A recent heatmap shows high liquidity near $3,280 to $3,320. This zone is loaded with short positions likely using tight stops. The red-orange bands on the chart confirm dense activity at these levels.

CW noted, 

“If $ETH rises to just 3.3k, most high leverage short positions will be liquidated.”