CandleFocus Ethereum Price Analysis: Here is the Next Probable Target for ETH
2024-12-01
Author: Content Editor
The price of Ethereum has shown strength and rebounded after testing the $3.5K support level. It is expected to challenge the $4K resistance soon, but periodic consolidations within the $3.5K to $4K range are likely. The bearish divergence in the RSI indicator suggests a potential mid-term consolidation correction phase before the price resumes its climb. The futures market metrics reveal a concerning divergence, with a surge in open interest without a corresponding new all-time high in Ethereum's price. This raises concerns about increased volatility and potential liquidation cascades if the price faces a sudden downturn or consolidation.
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