Ethereum Eyes $4,000 Again: Key Levels to Watch in the Bullish Battle

Ethereum faces a critical test at the $4,000 resistance. The asset’s bullish structure holds, but rejection at this level could prompt a retracement to $3,610 or lower before the next rally attempt.

Ethereum (ETH): Is $4,000 Still Within Reach?

Ethereum’s recent rally has brought the asset tantalizingly close to the psychological barrier of $4,000, a critical level for its short-term trajectory. However, a rejection at this resistance raises questions about its immediate future.

As of now, Ethereum is trading at approximately $3,915, just shy of the $4,000 mark. The asset’s price action shows a consistent pattern of higher highs and higher lows, indicative of a robust bullish structure. Yet, the inability to break through $4,000 signals strong selling pressure that could temporarily hinder further upward movement.

Key Levels to Watch

1. Support at $3,610
   If Ethereum cannot reclaim $4,000 in its next attempt, traders should focus on the $3,610 level. This support zone aligns closely with the 26-day EMA on the daily chart and has reliably acted as dynamic support throughout the current uptrend.
2. Deeper Support at $3,217
   Should Ethereum lose the $3,610 level, the next critical support lies around $3,217, near the 50-day EMA. A fall to this zone would signal a more pronounced retracement and a shift in the current bullish narrative.
3. Targets Beyond $4,000
   A successful breakout above $4,000 could pave the way for a rally toward $4,300, a key psychological and historical resistance level. Beyond that, the next bullish milestone would be $4,500, signaling a strong resurgence of momentum.

Indicators Signal Mixed Momentum

The RSI (Relative Strength Index) remains in bullish territory but hints at potential divergence. This suggests that while upward momentum persists, it may be weakening, increasing the likelihood of a short-term correction. Additionally, declining volume levels point to reduced participation, which could impact Ethereum’s ability to sustain upward movement without fresh demand.

The Bigger Picture

Ethereum’s price action remains structurally bullish, with its trend intact despite the $4,000 resistance. This level is pivotal for determining the asset’s next move. Holding the $3,610 support will be crucial for maintaining upward momentum, while breaking through $4,000 would signal a significant step toward higher targets.

Traders should closely monitor price action around these critical levels, as Ethereum’s next move will set the tone for its performance in the near term.

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