{"id":67146,"date":"2025-05-17T22:00:06","date_gmt":"2025-05-17T22:00:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=67146"},"modified":"2025-05-17T22:00:06","modified_gmt":"2025-05-17T22:00:06","slug":"ethereum-headed-for-crucial-encounter-at-4000-heres-why","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=67146","title":{"rendered":"Ethereum Headed For Crucial Encounter At $4,000 \u2013 Here\u2019s Why"},"content":{"rendered":"

Ethereum prices gained by over 4.6% in the past day to reach a peak of $2,634 before experiencing a slight retracement. In line with the bullish rhythm of the crypto market, the prominent altcoin has recorded significant price leaps in the past month, resulting in a total gain of 61.92% in this period. However, price patterns indicate that Ethereum is headed for a major encounter at $4,000<\/a>, a price level with potential to neutralize or validate the current price uptrend.\n<\/p>\n

ETH Must Surpass Long-Standing Resistance To Ignite Mega Rally<\/strong><\/h2>\n

In an X post<\/a> on May 16, OKC partner and crypto analyst Ted Pillows highlighted an important price level for Ethereum amidst the ongoing bull trend. Notably, ETH has moved by over 60% in the past few weeks from $1400 to trade above $2,600. Based on the growing chart pattern and underlying market fundamentals, the altcoin is likely to maintain this uptrend in the short term.<\/p>\n

According to Ted Pillows, $4,000 can be described as a crucial price region for ETH bulls based on historical price data. Notably, Ethereum has been trading within a massive symmetrical triangle<\/a> that began in Q3 2020 and has lasted over 1,500 days.\u00a0 The $4,000 price level currently sits just below the upper boundary of this triangle, representing a significant opposition to further price gains.<\/p>\n

In 2024, Ethereum popularly faced rejection thrice at the $4,000 price level, even amidst general market upswings, raising speculations over the altcoin\u2019s long-term profitability. If the ETH bulls can sustain the current market demand, another encounter with this major resistance level is likely on the cards.<\/p>\n

To confirm the altcoin\u2019s participation in a brewing crypto bull run and altseason, Ethereum must push past $4,000, flipping this price zone into an effective support level that could strengthen the current market structure with bullish targets set as high as $12,000<\/a>. However, if ETH faces another rejection at this resistance zone, a price correction could occur with potential for price lows around $1,700 in line with the lower boundary of the symmetrical triangle.\n<\/p>\n

ETH Institutional Interest Waxes Strong<\/strong><\/h2>\n

In other news, the ETH market continues to see significant market interest from institutional investors. In a separate X post, Ted Pillows reports<\/a> that UK-based investment manager Abraxas Capital now holds 257,165 ETH, valued at $655 million, following a continuous accumulation spree over the past few days. <\/p>\n

Institutional investments are strong bullish signals of long-term profitability for the ETH market as they indicate a strong demand from these traditional financial institutions with relatively high amounts of liquidity. At press time, crypto\u2019s largest altcoin trades at $2,490, indicating a 6.95% gain in the past week.<\/p>\n

Featured image from iStock, chart from Tradingview<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum prices gained by over 4.6% in the past day to reach a peak of $2,634 before experiencing a slight retracement. In line with the bullish rhythm of the crypto market, the prominent altcoin has recorded significant price leaps in the past month, resulting in a total gain of 61.92% in this period. However, price […]<\/p>\n","protected":false},"author":0,"featured_media":67147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-67146","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\/67146"}],"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=67146"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/67146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/67147"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}