Buying ETHUSD upon breaking through $3,385 resistance

The ETHUSD pair is currently hovering around the psychologically important $3,385 resistance level. The announcement of a two-week US-Iran ceasefire and ongoing peace talks between the two sides of the Middle East conflict have had a positive impact on the crypto market. Even modest signs of de-escalation have been enough to calm traders, boost risk appetite, and trigger capital flows into speculative assets like Ethereum.

Over the past few days, we have witnessed a shift in market sentiment toward a more confident and optimistic outlook for ETH. Meanwhile, the Fear and Greed Index continues to creep into greed territory, reaching multi-month highs. Retail investors appear over the moon with the current dynamic. They are enthusiastically accumulating positions or even going long in anticipation of a steady rally.

The technical setup aligns with this fundamental picture. ETHUSD is now approaching the $3,385 resistance level. Indicators suggest that this threshold is unlikely to hold against buying pressure and may give way, allowing bullish momentum to carry the pair to the next important target at $3,500.

The final recommendation:

— Buy ETHUSD if the $3,385 resistance is breached, aiming for $3,500 within the couple of weeks.

— Place a Stop Loss order slightly below the significant $3,385 level (at around $3,360) to manage the risk of adverse market movements.