CandleFocus Here’s What Needs to Happen for ETH to Break its All-Time High Soon: Ethereum Price Analysis
2024-12-16
Author: Content Editor
After being rejected at the $4K resistance level, Ethereum experienced a decline to the $3.5K support level. However, strong buying pressure has caused a rebound, bringing the price back to the $4K resistance. If Ethereum breaks above this resistance, it could trigger a short-squeeze and propel the price higher. However, failure to break through the $4K level could lead to another rejection and Ethereum may continue to consolidate within the $3.5K-$4K range. The futures market shows an increase in funding rates, indicating growing interest in long positions on Ethereum and a potential breakout above $4K.
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