Ethereum is showing a recovery above $3,500 and trades above $3,550, supported by a bullish trend line near $3,520 on the hourly chart.

A daily close above $3,700 could renew bullish momentum and push ETH toward $4,000, signaling buyers reclaiming control and possible further upside.

The Ethereum options market remains bullish, with calls composing about 65% of open interest and puts 35%, totaling roughly 2.1 million ETH in calls and 1.13 million ETH in puts.

Rising network activity and staking trends reinforce a positive mood and buying momentum behind the price rise.

If ETH clears the $3,650 resistance, the next targets are around $3,710, supported by the 76.4% Fibonacci retracement, with potential moves toward $3,880 and $3,920 if momentum holds.

Market observers urge patience and reliance on chart-based confirmations, cautioning against impulsive moves in this volatility.

Open interest in Ethereum futures across exchanges stands around $40.1 billion, led by Binance and CME, signaling growing institutional exposure.

Hourly MACD is bullish and RSI above 50, indicating positive near-term momentum for ETH/USD.

Some indicators show the hourly MACD losing momentum while RSI remains above 50, suggesting cautious upside or potential consolidation before a breakout.

On the 4-hour chart, indicators have turned bullish with RSI at 63 and MACD positive, signaling sustained buying pressure.

Analysts see a path to higher highs, with a decisive move above $3,500 viewed as a trigger for a rally beyond $5,000.

Traders broadly expect Ethereum to reach new all-time highs, with a rough outlook of $4,000–$6,000 in the near term.