Ethereum outlook: reclaiming $3.5K and $3.4K breakout needed for bullish shift

Ethereum remains in a corrective phase as recent sessions show stabilization and compression near key technical levels. A clear break above $3.4K and sustained acceptance over the $3.5K supply zone would be required to confirm a bullish turn. ETH trades near $3.1K while Binance's leverage ratio hits 0.8, highlighting fragile positioning.