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Ethereum (ETH) Has Not Reached $4,000 Yet, But What Could Happen Next?
Although the Ethereum price has shown significant growth in recent times, it is still a considerable distance away from breaking the crucial $4,000 barrier. At press time, ETH was trading at around $3,610.
Despite not reaching this milestone yet, there are signs that the bears may start to lose momentum. The RSI indicator on the chart suggests a slight divergence between price movements and technical indicators. This could indicate that the upward momentum is waning, which might cause a short-term correction.
Furthermore, it’s worth noting that the volume levels have been declining, suggesting a decrease in participation among traders and investors. If this trend continues, it may impact Ethereum’s capacity to rise further without new demand entering the market.
Although Ethereum’s structure remains bullish, the fact that it has not yet broken through $4,000 emphasizes the significance of this resistance level. For the upward momentum to continue, the support at $3,610 will be crucial. If this level is breached, it could signal a major leg up. It is essential for traders to keep a close eye on price movements around these critical levels.
For Ethereum enthusiasts and investors alike, reaching $4,000 would be an incredible feat. The question remains: can ETH still achieve this goal?
Source: u.today
