Ethereum Price Hits $3,400 as Traders Map Three Scenarios for the Next Move

Ethereum made a strong push over the past two sessions, briefly tapping the $3,400 area before slowing down. The move came right in line with Bitcoin’s recent strength and confirms that buyers are still in control of higher timeframes.

On the 4-hour chart, Ethereum clearly flipped structure to the upside after breaking out from the $3,100–$3,150 range. Now, though, the ETH price is no longer accelerating. It’s sitting just below resistance and starting to compress, which usually means the next move is being decided.

• What the ETH 4-Hour Chart Is Telling Us
• The Main Scenarios in Play
• What’s Next for ETH?

What the ETH 4-Hour Chart Is Telling Us

On the 4-hour chart shared by Lennaert Snyder, the range is pretty clear. The $3,400–$3,450 zone stands out as a weak weekly high. Ethereum already tested this area once and stalled, which shows sellers are present, but not strong enough to push price lower in any meaningful way.

Source: X/@LennaertSnyder

If the ETH price can reclaim this zone on a 4-hour close, it would signal acceptance above resistance and put momentum back in the bulls’ favor.

On the downside, liquidity sits around $3,270. This level lines up with the most recent higher low and is the spot where late longs could get shaken out. A quick dip below $3,270 followed by a reclaim would fit the current bullish structure and often sets up the next push higher.

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The Main Scenarios in Play

If the ETH price drops into the $3,270 area, the focus turns to how it reacts there. A clean structure break on lower timeframes after that sweep would indicate buyers are stepping back in. In that case, a move back toward the highs becomes the base case.

If the price comes back to $3,400, it’s not the level itself that matters most, but how Ethereum reacts there. A rejection could trigger a short-term pullback, but as long as the broader structure stays intact, that move would still be against the trend. On the flip side, a clean 4-hour reclaim above this area would put momentum back on the bulls’ side.

The most likely positive outcome will be a clean breakout above $3,450 on the 4-hour chart, with a subsequent hold at this level. If Ethereum pulls this off, the subsequent level to move above will be approximately $3,600, which coincides with what the chart shows.

What’s Next for ETH?

Overall, the ETH price still looks healthy. The pace has slowed after the breakout, but the structure hasn’t changed. As long as Ethereum remains above approximately $3,270, any pullbacks should simply be brief pauses and not necessarily reversals. Once it is able to break and close above around $3,450, that would likely mark the beginning of the next upward thrust.