Ethereum (ETH) recently surged above a descending broadening wedge, reaching a local high of $3,657. However, profit-taking has led to a pullback, with ETH now retesting the breakout level around $3,507. Analysts indicate that maintaining support above the 50 moving average at $3,482 is crucial for sustaining the bullish momentum, potentially driving ETH towards $4,750. Conversely, failing to hold this support could see ETH revert to its previous downtrend.