CandleFocus Ethereum Price Analysis: ETH Gains 9% Weekly But The Road to $4K Has These Obstacles
2024-12-03
Author: Content Editor
Ethereum has seen a strong surge in buying activity, driving its price towards the $4,000 resistance level. However, this level is likely to see a period of consolidation and increased volatility as it is a key psychological and technical barrier. Long-term holders may look to take profits at this level. A breakout above $4,000 could trigger a short squeeze and push Ethereum towards its all-time high of $4,900. Technical indicators suggest a potential consolidation phase before the next significant move. The presence of liquidity at key support and resistance levels could lead to cascades of stop-loss orders and short liquidations, further impacting Ethereum's price movement.
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