news 
Ethereum (ETH): Is $4,000 Still Possible?
The cryptocurrency market has been witnessing a significant rally in recent times, with various digital assets experiencing substantial growth. In the midst of this upward momentum, many investors are now focusing on Ethereum’s (ETH) potential to surpass its current resistance level at $4,000.
Currently, ETH is trading at around $3,300, still within striking distance of the critical milestone. Although it has not yet broken through this barrier, some experts believe that a fresh minting by Ripple, set to hit the market, could increase Ethereum’s chances of reaching this target.
According to recent reports, Ripple is poised to release 13 million new RLUSD tokens onto the market, which could potentially have a positive impact on the overall crypto landscape. The ripple effect (pun intended) may lead investors seeking safer assets to flock towards ETH, thereby driving prices up and potentially pushing it beyond $4,000.
While this development could provide the necessary catalyst for ETH to break through its current resistance, there are also indicators that suggest caution is warranted. The chart’s RSI indicator has shown signs of divergence, indicating a possible short-term correction in the near future.
Furthermore, volume levels have been on the decline recently, which may further impede Ethereum’s ability to rise significantly without fresh demand coming into the market. For the bullish momentum to continue, it will be essential for ETH to maintain its support at $3,610 and avoid any significant falls below this level.
In conclusion, although there are concerns regarding potential divergence and decreasing volume levels, it is still possible for Ethereum to reach or exceed $4,000 in the short term. However, investors should keep a close eye on price action around these critical levels to gauge the asset’s prospects.
The views expressed here are not investment advice; they are provided for informational purposes only.
Source: u.today
