Ethereum price analysis (Bullish) — 3890.67 USDT (+0.94% 24h)

Ethereum continues to show strength as it trades at $3,890, comfortably above its 20-day SMA of $3,825 despite sitting just below the 50-day SMA at $3,872. The 0.94% gain over the past 24 hours, coupled with substantial $2.14 billion trading volume, indicates sustained institutional interest. However, traders should note the RSI reading of 69.38 suggests ETH is approaching overbought territory, which could trigger short-term profit-taking. The current volatility of 3.59% presents both opportunity and risk for day traders. For position traders, holding above $3,825 remains crucial for maintaining bullish momentum. Consider scaling into positions on any dips toward the $3,800-$3,825 support zone, while setting stop-losses below $3,780 to manage downside risk. Options traders might explore selling covered calls above $4,000 resistance to generate additional yield in this range-bound environment.