{"id":24831,"date":"2024-12-01T11:18:05","date_gmt":"2024-12-01T11:18:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24831"},"modified":"2024-12-01T11:18:05","modified_gmt":"2024-12-01T11:18:05","slug":"ethereum-price-analysis-here-is-the-next-probable-target-for-eth","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24831","title":{"rendered":"Ethereum Price Analysis: Here is the Next Probable Target for ETH"},"content":{"rendered":"

Ethereum\u2019s price shows signs of strength, with a slight rebound after retesting the $3.5K support level. While the price is poised to challenge the $4K resistance soon, periodic consolidations within the $3.5K to $4K range are likely as the market digests recent gains.<\/p>\n

Ethereum Price Analysis<\/h1>\n

By Shayan<\/a><\/p>\n

The Daily Chart<\/h2>\n

Ethereum\u2019s upward trajectory has faced a pause after an impressive surge above the $3.5K resistance level. This breakout was a significant milestone, but the subsequent loss of bullish momentum led to a consolidation period, returning to the $3.5K mark.<\/p>\n

This pullback has triggered renewed buying interest, leading to a slight rebound that demonstrates the market\u2019s intention to sustain its upward movement.<\/p>\n

However, the bearish divergence in the RSI indicator suggests a weakening bullish momentum. It indicates that Ethereum might face a mid-term consolidation correction phase before resuming its climb. As the price progresses toward the $4K psychological resistance, periods of reduced volatility and retracements are expected.<\/p>\n

<\/a>Source: TradingView<\/p>\n

The 4-Hour Chart<\/h2>\n

During the 4-hour timeframe, Ethereum\u2019s bullish strength remains evident, with its breakout above the ascending wedge pattern and the critical $3.5K resistance level.<\/p>\n

The price\u2019s pullback to this region and subsequent rebound confirm the continuation of the uptrend toward the $4K mark in the mid-term.<\/p>\n

However, the bearish divergence between the price and the RSI indicator on the 4-hour chart suggests increasing seller activity and waning bullish momentum.<\/p>\n

This scenario implies that while the price will likely move toward the $4K mark, it may face periods of sideways trading and minor corrections within the $3.5K-$4K range. Such movements would allow the market to consolidate before another impulsive move.<\/p>\n

<\/a>Source: TradingView<\/p>\n

Onchain Analysis<\/h1>\n

By Shayan<\/a><\/p>\n

Ethereum\u2019s price has rebounded at the critical $3.5K support level, maintaining its bullish trajectory. However, while price action indicates potential upward movement, the futures market metrics reveal an alarming divergence that could significantly influence market dynamics.<\/p>\n

The open interest metric, which tracks the total number of open perpetual futures positions across all exchanges, has reached a new all-time high. This spike suggests unprecedented speculative activity in Ethereum\u2019s derivatives market.<\/p>\n

Interestingly, this surge in open interest is occurring without a corresponding new all-time high in Ethereum\u2019s price.<\/p>\n

This divergence raises concerns of increased volatility and substantial liquidation cascades. If the price faces a sudden downturn or consolidation, the overleveraged positions in the Futures market could trigger a wave of forced liquidations, leading to rapid price declines.<\/p>\n

<\/a>Source: CryptoQuant<\/p>\n

The post Ethereum Price Analysis: Here is the Next Probable Target for ETH<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum\u2019s price shows signs of strength, with a slight rebound after retesting the $3.5K support level. While the price is poised to challenge the $4K resistance soon, periodic consolidations within the $3.5K to $4K range are likely as the market digests recent gains. Ethereum Price Analysis By Shayan The Daily Chart Ethereum\u2019s upward trajectory has […]<\/p>\n","protected":false},"author":0,"featured_media":24832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24831"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24831"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24832"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}