The analysis indicates a predominantly bullish outlook for Ethereum, largely driven by strong technical structures. Ethereum's price has shown an ideal breakout above the 3220 level, signaling significant underlying strength. This breakout is characterized by gaps to the downside, which are interpreted as robust bullish indicators. While a minor pullback into these gap areas, around 3175, is considered a possibility, the overall technical structure suggests that such a move would likely be followed by a sharp rebound, trapping shorters, leading to stabilization, and ultimately, a continuation of the upward trajectory. The primary price target for ETHUSDT is identified at 3480, with potential for further ascent. Supporting this technical strength is the ETHBTC pair, which is described as a hybrid technical and fundamental catalyst. ETHBTC has exhibited relative strength over the past week and is anticipated to breach the 0.03500 level, which would further fuel Ethereum's rally against USD. Despite these strong technical signals, the analysis acknowledges fundamental headwinds, including news of new tariffs impacting global trade and the potential negative implications of the 'Clarity Act' bill for DeFi yields. However, the prevailing sentiment is that most fundamental news is already priced into the market. Therefore, the general structure of Ethereum is deemed robust enough to withstand these pressures, leading to a sustained bullish movement. Traders are advised to be aware of decreased volume and liquidity during weekends, which can lead to increased volatility.