Ethereum

Convergence

bullish

Divergence

<ul class="wp-block-list">
 <li>Ethereum trades in the $3.8K zone over the past 24 hours.&nbsp;</li>
 <li>The market saw $85.87 million worth of Ethereum liquidated.</li>
</ul>
Following a period of consolidation within $99K–$95K, Bitcoin touched the $100K mark on December 5, propelling the second largest cryptocurrency, Ethereum, and other leading altcoins to new highs. ETH has been marking its upward trajectory for the past few days.&nbsp;
Analysts believe that if Ethereum could stage strong bullish signals, it could not only hit $4K but also have the potential to reach the $5K level. Despite the minimal dips, ETH climbed <a href="https://thenewscrypto.com/why-is-ethereum-eth-stalling-at-3-1k-while-bitcoin-surges/" target="_blank" rel="noopener noreferrer nofollow">higher</a> following Bitcoin’s momentum. The altcoin looks forward to extending its gains.&nbsp;
Notably, Ethereum price has rallied to the $3.9K range, opening the gate to achieve more gains in the upcoming altcoin season. An immediate catch at $3.9K could target $4K.&nbsp;
As of Friday, December 6, Ethereum’s price has spiked by 1.22%, testing a high and low of $3,683 and $3,956, respectively. At press time, ETH <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">trades</a> at $3,898. In the meantime, the daily trading volume of ETH stays at $53.59 billion. The market also observed a <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">liquidation</a> of $85.87 million worth of Ethereum during this frame.&nbsp;
<h3 class="wp-block-heading" id="h-is-4k-within-reach-for-eth">Is $4K Within Reach for ETH?</h3>
Ethereum’s current market <a href="https://www.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3AETHUSD" target="_blank" rel="noopener noreferrer nofollow">sentiment</a> is neutral, with the daily relative strength index (RSI) at 62.95. If the value increases, ETH might enter the overbought zone. Besides, the altcoin’s daily window reveals the short-term 50-day moving average is laid over the long-term 200-day moving average at $3,690 and $3,236, respectively.&nbsp;
It is crucial to observe the technical analysis of the ETH/USDT trading pair, exposing the brief bullish momentum. The Moving Average Convergence Divergence (MACD) line has compactly crossed the signal line. This crossover likely points to an approaching market upturn.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdiqQPsGfrZPtqLGZocuHiVm292qOTMGOzSiRjCk5d9a4NhVLZ0KoezluW6Z1wPxG0a_s0F766lmpu8MAkfRxDrMiO0ErgLGahlDR7nnrzfb_kkkCgD2qBQizHAy6bfMzCwraJKeQ?key=LkZzWnQWH6lun0192O2Cn2iY" alt="">
 <figcaption class="wp-element-caption">ETH chart (Source: <a href="https://www.tradingview.com/symbols/ETHUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Additionally, the Chaikin Money Flow (CMF) indicator, which accesses the money flow, is located at 0.14, signaling a positive money flow and demand in the market. Also, Ethereum’s daily trading volume has dropped by over 15.93%.&nbsp;
The four-hour price graph exhibits a brief upside momentum. If ETH’s current uptrend builds up, it could <a href="https://thenewscrypto.com/ethereum-eth-breaks-out-and-eyes-4k-resistance/" target="_blank" rel="noopener noreferrer nofollow">break</a> into the $4K level. Eventually, it might bring in a testing session of resistance to hit its previous all-time high at $4,891, which was reached three years ago.&nbsp;
On the downside, if the current bullish price movement is not strong enough and the ETH price reverses, despite running toward $4,000, it could probably find the immediate support zone around $3.6K. The altcoin may even slip toward the $3.4K mark.
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Will Ethereum (ETH) Surge Past $4K Soon?

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