ETH/USD is trading around 3,515, bouncing after reaching a high of 3,816 and a low of 3,204. Yesterday, Ether reached the September 2021 price levels, approaching the psychological level of $4,000.
ETH has a strong resistance around 6/8 Murray located at 3,750. In case there is a pullback towards this level, it could be seen as an opportunity to sell with targets at 5/8 Murray located at 3,125.
In view that Ether started a technical rebound above 3,200, we can buy at current price levels with the target at 3,750.
Our outlook for the next few days suggests a range-bound market. Therefore, Ether is expected to trade between 3,750 and 3,125 which could offer a good opportunity to buy and sell around these levels.
In case ETH breaks and consolidates above 3,750, it could resume its bullish cycle. So, the token could reach the psychological $4,000 level and could even approach the 4/8 Murray located at 4,375.
On the contrary, ETH could start a bearish cycle. For this, it should consolidate below 3,125, then it could reach the 4/8 Murray pivot point located at 2,500 and could even approach the 21 SMA located at 2,390.
