Ethereum

bullish

Strong

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A recent attempt was made to break <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">Ethereum</a>'s psychological resistance of $4,000, a crucial level that is fundamental for the asset's performance. Although <a href="https://u.today/27-billion-in-bitcoin-and-ethereum-expired-whats-next" rel="noopener noreferrer nofollow">Ethereum</a> has been steadily rising since November, the asset's short-term trajectory is called into question by this rejection at $4,000.
The current price of ETH is about $3,915, which is just below the target of $4,000. A sound bullish structure with higher lows and higher highs is evident in the price action. Strong selling pressure, however, is indicated by the rejection at $4,000, which may cause a brief retracement before another upward move.
The most important support level to keep an eye on if <a href="https://u.today/xrp-critical-pattern-emerging-ethereum-eth-not-giving-up-major-solana-sol-support-here" rel="noopener noreferrer nofollow">Ethereum</a> is unable to recover $4,000 in the upcoming attempt is approximately $3,610, which is in close proximity to the 26 EMA on the daily chart. Throughout the current uptrend, this level has served as a dependable dynamic support. <img src="https://u.today/sites/default/files/inline-images/image_1545.png" data-entity-uuid="8987c24b-85ca-4267-96f5-9ead61d9aaf5" data-entity-type="file" alt="ETHUSDT" data-caption="<a href=&quot;https://www.tradingview.com/&quot;>ETH/USDT Chart by TradingView</a>">
Ethereum may be vulnerable to additional drops toward the $3,217 zone, a crucial area indicated by the 50 EMA if it breaks below this support. Breaking through $4,000 could pave the way for a rally toward $4,300, which is psychologically significant and in line with prior price action resistance. The next target after that is $4,500, which is an even more bullish milestone.
Although there are indications of possible divergence, the chart's RSI indicator is still in bullish territory. This could increase the chance of a short-term correction by indicating that although the upward momentum is still present, it is waning. The volume levels also point to a decline in participation, which might affect ETH's capacity to rise in the absence of new demand.
Although <a href="https://u.today/coinbase-adds-three-major-crypto-listings-ethereum-and-solana-in-focus" rel="noopener noreferrer nofollow">Ethereum's</a> structure is still bullish, the fact that it has not broken $4,000 highlights how crucial this resistance level is. For the bullish momentum to continue, the $3,610 support will be essential, and a break of $4,000 might signal a major leg up. Around these crucial levels, traders should keep a careful eye on price movement. <a href="https://u.today/ethereum-eth-is-4000-still-possible" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Ethereum (ETH): Is $4,000 Still Possible?

U_Today

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