After the FED announced the unsurprising interest rate hike, cryptomarket included ETH is trending up with very few fraction above the diagonal resistance. This is a very good indicator. I am expecting 3800 as a target at least before the buyer who accumulated around 3k started to risk off their position by selling some of their ETH and before the next interest rate hike. If the new buyer is coming in, the market might initiated a new bullish cycle. However, this will be possible only if the global market and geopolitics resolved to incentivize the new buyer to come in. We will have to eye an eye on 3.8k resistance. If the global sentiment is worsen, the market might come down again forming a longer and wider ranging market.
*This is also a hypothesis for crypto market overall as well but I decide to post ETH as an exemplar as it is the dominant ALT coin
*This is also a hypothesis for crypto market overall as well but I decide to post ETH as an exemplar as it is the dominant ALT coin