{"id":26895,"date":"2024-12-09T12:19:36","date_gmt":"2024-12-09T12:19:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=26895"},"modified":"2024-12-09T12:19:36","modified_gmt":"2024-12-09T12:19:36","slug":"ethereum-price-analysis-heres-what-next-for-eth-after-getting-rejected-at-4k","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=26895","title":{"rendered":"Ethereum Price Analysis: Here\u2019s What Next for ETH After Getting Rejected at $4K"},"content":{"rendered":"

Ethereum\u2019s price is in a critical zone near $4K, facing resistance but also showing signs of consolidation. While the market remains bullish overall, short-term fluctuations within the $3.5K-$4K range are expected before a potential breakout or deeper pullback.<\/p>\n

Technical Analysis<\/h2>\n

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

The Daily Chart<\/h3>\n

Ethereum has made impressive progress, surging toward the psychological $4K resistance region. This price level coincides with Ethereum\u2019s yearly high and is a strong area of selling pressure. Recently, the rejection at this line has caused a slight decline, signaling that the resistance is proving difficult for buyers to overcome.<\/p>\n

After the correction, the market entered a period of low volatility, suggesting a short-term consolidation phase. This phase could last within the $3.5K-$4K range as buyers and sellers reach a standoff. The RSI indicator\u2019s bearish divergence supports the notion of an overbought market, reinforcing the likelihood of this corrective stage.<\/p>\n

While the price has faced some resistance, ETH buyers will likely make another attempt to push past $4K. However, before that, a period of sideways movement is expected as the market digests the recent gains.<\/a><\/p>\n

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

On the 4-hour timeframe, ETH maintains a bullish market structure, consistently forming higher highs and higher lows. Despite the rejection at $4K, the overall trend remains upward, as Ethereum has been trending within an ascending price channel.<\/p>\n

The failure at the $4K resistance zone has led to a period of consolidation, with the asset hovering just below this critical level. The lower boundary of the ascending channel, currently around $3.7K, provides short-term support. If the price continues to maintain it, a bullish surge toward the $4K threshold is likely.<\/p>\n

On the other hand, a break below the channel\u2019s lower trendline could indicate weakening bullish momentum, with a possible pullback toward the $3.5K support level in the mid-term. However, if buyers manage to defend it, another attempt to break $4K could be imminent.<\/a><\/p>\n

Onchain Analysis<\/h2>\n

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

Ethereum\u2019s Funding Rates metric, reflecting futures market sentiment, has surged to its highest level in months, coinciding with a significant price rally. This highlights strong bullish sentiment, with traders anticipating new all-time highs. However, the market may require a correction to sustain this momentum.<\/p>\n

Funding rates are at levels last seen in January 2024, when Ethereum rallied by 88%. This reflects increased long-position interest as optimism grows. Similar to January, this sharp increase suggests the likelihood of a pullback, allowing the market to stabilize and avoid excessive volatility.<\/p>\n

While Ethereum\u2019s rally is underpinned by bullish sentiment, the spike in funding rates signals the need for a short-term correction, paving the way for healthier and more sustainable price growth.<\/a><\/p>\n

The post Ethereum Price Analysis: Here\u2019s What Next for ETH After Getting Rejected at $4K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum\u2019s price is in a critical zone near $4K, facing resistance but also showing signs of consolidation. While the market remains bullish overall, short-term fluctuations within the $3.5K-$4K range are expected before a potential breakout or deeper pullback. Technical Analysis By Shayan The Daily Chart Ethereum has made impressive progress, surging toward the psychological $4K […]<\/p>\n","protected":false},"author":0,"featured_media":26896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26895","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\/26895"}],"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=26895"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26895\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26896"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}