Ethereum ($ETH) rally stalls at $4,000 resistance, expanding prospects for a short-term correction.

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Ethereum (ETH) has continued its strong rally, rising by about 57% in the past month, but is facing selling pressure near the $4,000 (approximately 55.6 million won) mark, which is hindering further increases. Market views are gaining traction that there is a high possibility of retesting the $3,500-$3,300 (approximately 48.65-45.87 million won) range. Independent market analyst Adam pointed out that while Ethereum showed a technically strong recovery, the sell wall near the $4,000 level is preventing price increases. He analyzed, "ETH has clearly come back to life, but its price increase momentum could weaken until these sell orders are absorbed or withdrawn." In fact, Ethereum has led the bullish trend even amid Bitcoin's (BTC) relative sluggishness, reflecting expectations for DeFi and Layer 2 scalability projects. However, there are observations that the upward momentum may temporarily pause as it enters a zone overlapping with technical resistance and selling pressure. Among traders, there is a growing atmosphere of noting the possibility of Ethereum testing levels below $3,500 before buying sentiment fully recovers. While this represents a correction zone compared to previous highs, there are also forecasts that after resolution, it could attempt to renew its yearly high.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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