Ethereum Price Resistance and Support Levels Signal Bullish Breakout Potential

Ethereum's critical support levels are approximately between $3,280 and $3,376, providing a solid foundation for potential price stability. The bottleneck resistance zone lies around $3,896 to $4,000, which could challenge the market's upward momentum. Notably, there are about 4.48 million Ethereum addresses currently experiencing unrealized losses, indicating significant potential for market corrections or rapid movements if these investors decide to exit their positions.

If Ethereum surpasses the resistance at $4,000, the next potential upside targets could be in the range of $4,105 to $4,200, suggesting a bullish continuation if bullish momentum persists. Monitoring these levels closely can provide valuable insights into the next directional move of ETH, especially considering the large number of addresses in loss, which might act as both support and resistance depending on market sentiment.