news 
Title: Ethereum (ETH): Is $4,000 Still Possible?
As the cryptocurrency market continues to fluctuate and display a mix of both excitement and uncertainty, traders are left questioning whether Ethereum’s recent bull run is truly sustainable. According to recent reports, Ripple has minted 13 million RLUSD, a fresh influx that could have significant implications for the crypto landscape.
In this regard, the idea of $4,000 being achievable seems uncertain at best. While Ethereum’s structure remains technically bullish, it hasn’t managed to break through the critical resistance level of $4,000. This highlights the significance of this price point in determining the direction of the market.
As observed on charts, the RSI indicator has shown signs of divergence, indicating a possible short-term correction could be imminent. The volume levels are also suggesting a decline in participation, which may hinder Ethereum’s ability to rise without fresh demand.
Despite being bullish overall, it is essential to emphasize that Ethereum needs to hold onto the $3,610 support level to maintain its upward momentum. A failure to do so would significantly diminish the chances of achieving $4,000 and potentially signal a significant correction.
With these crucial price levels in mind, traders should exercise extra caution as they navigate the current market dynamics.
Note: The article is about Ethereum’s potential price movement and the significance of specific resistance levels, highlighting the importance of considering chart analysis and market conditions before making trading decisions.
Source: u.today
