CandleFocus ETH Seems Primed to Take Down $4K After Recent Rebound: Ethereum Price Analysis
2024-12-12
Author: Content Editor
Ethereum has been trading within a range between $3.5K and $4K. After finding support at the lower boundary, the price is attempting to push towards the $4K resistance level. However, the $4K resistance has proven to be a strong selling zone, causing the price to decline. Despite this setback, Ethereum has found support at $3.5K and is once again approaching the $4K resistance. The short-term outlook suggests continued consolidation within the range, but a breakout above $4K could trigger a broader bullish rally. The concentration of liquidity at the $3.5K support and $4K resistance levels indicates the potential for a liquidation cascade if these levels are breached. A breakout above $4K is considered the more probable scenario.
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