Given this tight price performance, the crypto analyst believes that this could lead to a short-term correction. This correction would take the Ethereum price toward the ascending trendline, putting the next major support from such a correction just above the $3,600 level.
The crypto analyst highlights that the Ethereum price must not close a daily candle below $3,500. This is because if it does this, then it would invalidate the entire bullish scenario, leading to a much deeper correction that could see it fill the wick from the flash crash.
