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The post <a href="https://coinpedia.org/price-analysis/ethereumeth-loosing-or-gaining-the-momentum-is-4000-possible/">Ethereum(ETH) Loosing Or Gaining The Momentum? Is $4000 Possible?&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
<ul> 
 <li>With over 20% rise in a month, ETH price is under bearish correction</li> 
 <li>ETH trading below $3550 resistance and short-term moving averages</li> 
 <li>A short-term trend forming a downward channel, and a breakout anytime is expected.&nbsp;</li> 
 <li>Market sentiment remains positive and demands a rally towards $4000.&nbsp;</li> 
</ul> 
With Bitcoin’s (BTC) price facing a downward rally for a week, Ethereum’s price was impacted by downward pressure, reflecting the ongoing market volatility. The king of altcoins, ETH has stabilized price movement today after rising nearly 20% in a month but moving down 7.8% in a week frame. 
After Ethereum Spot ETF Approval, the ETH price reflected upward with a rally from $3000 to $3818 and was rejected to roll back to a recent weekly low of $3430.However, the price recovery below $3500 is a significant indication of increased buyers’ interest in the highly bullish speculative altcoin, Ethereum.&nbsp; 
Ethereum Price USD is $3521 at the time of writing, with volume down to 19.9%. 
<h2 class="wp-block-heading" id="h-ethereum-bulls-struggling-hard">Ethereum Bulls Struggling Hard</h2> 
The intraday price action shows a mild uptick but a significant one, the ETH price rebounding above $3500 and moving toward resistance at $3560 and $3617. The fresh increase fueled up the market sentiments from consolidation to a holding zone. If the buyers start accumulating now, we can expect a slight break out upward forming new support zones.&nbsp; 
The 4hr ETH/USDT chart reveals a downward moving channel forming along with a cruricial bearish trend line near the resistance of $3560, with new support at $3428.&nbsp;&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfEXlnu3I8UbitrAC81EGPjbHeTz2Abj54W2UCiWm5dBMln2m0I4Y6dTX-sHq1B-oJqev0N83dS3KuoGakzxVZcrpS_LUaKIi1lNjEdEiZV2jDDDFBLm6axLaOzYh3qlxghd4LK2HmspZb5FpBv2FSSY1A?key=KVZto45PH0kRgOLCCxNa-A" alt="">
</figure> 
The price is moving above all long-term moving averages but below the short-term averages, reflecting corrections in the short term but bouncing back in the long term.&nbsp; 
MACD at -40 has lost momentum in the bearish zone and RSI in 44 is neutral but eyeing towards more selling pressure.&nbsp; 
<h2 class="wp-block-heading" id="h-will-ethereum-reach-4000-again-soon">Will Ethereum Reach $4000 Again Soon?&nbsp;</h2> 
Ethereum’s price action is parallel to the Bitcoin (BTC) in general market conditions, the recent fundamental updates dont look fueled enough to uplift the ETH price.&nbsp; 
In the recent scenario, Etheteun needs to break above the $3560 resistance, failing to which can lead to a correction below $3400 and $3350. Going below this clears the ground for bears to run near $3270 and more.&nbsp; 
The current technical indicators and Social media sentiments are in a neutral zone, and only the long-term moving averages are helping bulls. The price needs to break above $3560 zone and breakout the downward channel to see new resistance at $3700, $3820.&nbsp; 
A Strong bias on the bulls is likely to take the ETH price to $400 again, but only after corrections.&nbsp;

Ethereum(ETH) Loosing Or Gaining The Momentum? Is $4000 Possible?

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