The price of Ethereum (ETH) has reached the psychological price threshold of $4,000 for the second time. However, buyers have failed to sustain their bullish momentum above this level and the altcoin is now testing the resistance again. If successful, Ether could break out above $4,094 and rise to $4,500. The 21-day simple moving average (SMA) is trading near the price bars, indicating potential support. However, if Ether falls below the 21-day SMA, selling pressure may increase, and the bearish momentum could continue towards the 50-day SMA or the low at $3,300. The resistance levels are $4,000 and $4,500, while the support levels are $3,500 and $3,000. The 4-hour chart shows Ether trading above support at $3,500 but below resistance at $4,100, and if rejected at the high, it could enter a range-bound trend. The overall signal for the cryptocurrency is bullish, as the price bars remain above the moving average lines. This analysis and forecast are the personal opinions of the author and should not be considered as financial advice. Readers should conduct their own research before investing.
- Content Editor ( coinidol.com )
- 2024-12-17
Ethereum Stops Again Near The $4,000 High