{"id":27912,"date":"2024-12-12T14:27:52","date_gmt":"2024-12-12T14:27:52","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27912"},"modified":"2024-12-12T14:27:52","modified_gmt":"2024-12-12T14:27:52","slug":"eth-seems-primed-to-take-down-4k-after-recent-rebound-ethereum-price-analysis","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27912","title":{"rendered":"ETH Seems Primed to Take Down $4K After Recent Rebound: Ethereum Price Analysis"},"content":{"rendered":"

Ethereum has been oscillating within the critical $3.5K\u2013$4K range, with its price recently finding support near the lower boundary at $3.5K.<\/p>\n

Following this rebound, the bulls are attempting a renewed push toward the $4K resistance level.<\/p>\n

Technical Analysis<\/h2>\n

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

The Daily Chart<\/h3>\n

The upward momentum in Ethereum\u2019s price met a pause at the $4K resistance, which has proven to be a key selling zone. This rejection led to a decline toward the lower boundary of the range at $3.5K. However, renewed buying activity at this support has triggered another strong push upward, targeting the $4K threshold.<\/p>\n

The $4K resistance is pivotal, as it aligns with Ethereum\u2019s prior swing highs and has repeatedly snubbed bullish attempts. Consequently, the short-term outlook suggests continued consolidation within the $3.5K\u2013$4K range. A decisive breakout above the $4K level could pave the way for a broader bullish rally.<\/a><\/p>\n

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

In the 4-hour timeframe, ETH faced a sharp rejection at the $4K resistance, resulting in an impulsive decline below the middle boundary of the ascending channel at $3.8K. This move reflects the strong presence of sellers at the $4K level, making it a formidable barrier for buyers.<\/p>\n

Despite this setback, Ethereum found support near the $3.5K level, where buying pressure intensified. The subsequent bullish momentum pushed the price back above the channel\u2019s middle boundary, bringing it close to the $4K resistance once again.<\/p>\n

While buyers remain eager to breach the $4K threshold, bearish divergence on the RSI indicator signals caution. A short-term consolidation below this resistance appears likely before another potential bullish breakout.<\/a><\/p>\n

Onchain Analysis<\/h2>\n

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

Ethereum\u2019s price behavior, particularly its stability at the $3.5K support level, reflects the significant liquidity concentrated below this threshold, as highlighted by the Binance liquidation heatmap. Similarly, the $4K resistance level marks another critical zone of liquidity, primarily associated with short positions placed in anticipation of a price rejection.<\/p>\n

These two levels represent the highest concentration of liquidity near the current price. If ETH successfully breaches the $4K resistance, it could trigger a short-liquidation cascade as short-sellers rush to cover their positions. This would likely result in an impulsive price surge as the unwinding of these positions fuels further upward momentum.<\/p>\n

However, a breakout in either direction has the potential to ignite a liquidation cascade, intensifying the subsequent price movement. Given the prevailing market dynamics, a bullish breakout above $4K appears to be the more probable scenario.<\/a><\/p>\n

The post ETH Seems Primed to Take Down $4K After Recent Rebound: Ethereum Price Analysis<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum has been oscillating within the critical $3.5K\u2013$4K range, with its price recently finding support near the lower boundary at $3.5K. Following this rebound, the bulls are attempting a renewed push toward the $4K resistance level. Technical Analysis By Shayan The Daily Chart The upward momentum in Ethereum\u2019s price met a pause at the $4K […]<\/p>\n","protected":false},"author":0,"featured_media":27913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27912","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\/27912"}],"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=27912"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27913"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}