{"id":25344,"date":"2024-12-03T12:51:55","date_gmt":"2024-12-03T12:51:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=25344"},"modified":"2024-12-03T12:51:55","modified_gmt":"2024-12-03T12:51:55","slug":"ethereum-price-analysis-eth-gains-9-weekly-but-the-road-to-4k-has-these-obstacles","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=25344","title":{"rendered":"Ethereum Price Analysis: ETH Gains 9% Weekly But The Road to $4K Has These Obstacles"},"content":{"rendered":"

Ethereum is showing strong bullish momentum, driven by an influx of buyers. However, as the price nears a significant resistance level at $4K, market participants should anticipate a period of consolidation with the potential for heightened volatility.<\/p>\n

Technical Analysis<\/h2>\n

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

The Weekly Chart<\/h3>\n

Ethereum has experienced an impulsive uptrend, fueled by buying activity near the $2.5K support region. This movement has led to a breakout above the key 100-day and 200-day moving averages, signaling a shift in market sentiment and confirming the buyers\u2019 dominance. The asset is approaching the $4K resistance zone, a crucial psychological and technical level, likely filled with substantial supply.<\/p>\n

The $4K threshold is a probable distribution zone for long-term holders looking to take profits. A consolidation phase around this level will likely give the market time to absorb selling pressure. However, a liquidity pool above $4K could trigger a short squeeze if breached, potentially driving Ethereum toward its all-time high of $4.9K.<\/a><\/p>\n

The 4-Hour Chart<\/h3>\n

On the 4-hour timeframe, ETHs price action reflects a Wyckoff accumulation pattern within the $2K-$2.8K range, culminating in a breakout and an impulsive rally past the $3.5K decisive threshold. The asset has also broken above the upper boundary of a bearish wedge pattern, a bullish signal, and has since completed a pullback.<\/p>\n

If this correction holds and buying pressure continues, Ethereum will likely extend its uptrend toward the $4K resistance. However, caution is warranted, as a bearish divergence between the RSI indicator and the price suggests a waning bullish momentum. This divergence indicates that the market may face a period of consolidation before determining its next significant move.<\/a><\/p>\n

Onchain Analysis<\/h2>\n

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

The behavior observed in Ethereum\u2019s price movement, particularly the failure to drop below the $3.3K level, aligns with significant liquidity below that point, as seen in the Binance liquidation heatmap. This liquidity likely consists of stop-loss orders and liquidation prices for large traders, or whales, who actively defend their positions to prevent a cascade of liquidations.<\/p>\n

Similarly, the $4K level is another critical juncture with substantial liquidity, likely tied to short positions established in anticipation of resistance. Should the asset breach the $4K level, these shorts may be forced to cover their positions, triggering a short-liquidation cascade. This could lead to an impulsive surge, as those positions are unwound, and the market quickly moves higher.<\/a><\/p>\n

The post Ethereum Price Analysis: ETH Gains 9% Weekly But The Road to $4K Has These Obstacles<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum is showing strong bullish momentum, driven by an influx of buyers. However, as the price nears a significant resistance level at $4K, market participants should anticipate a period of consolidation with the potential for heightened volatility. Technical Analysis By Shayan The Weekly Chart Ethereum has experienced an impulsive uptrend, fueled by buying activity near […]<\/p>\n","protected":false},"author":0,"featured_media":25345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25344","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\/25344"}],"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=25344"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25345"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}