3 hours ago

Ethereum Price Analysis: ETH Rejected at $4K Again, Is $3.5K Next?

Ethereum recently faced a minor rejection at the critical $4K resistance zone, underscoring the presence of sellers at this level. A pullback toward the $3.5K support area may follow, providing an opportunity for buyers to re-enter the market with the goal of reclaiming the $4K threshold. Technical Analysis By Shayan The Daily Chart Ethereum recently faced another rejection at the pivotal $4K resistance level, highlighting the strong presence of sellers in this zone. This has created a challenging environment for buyers attempting to sustain the uptrend toward a new all-time high. The price action suggests the formation of a double-top bearish reversal pattern, signaling the potential for a retracement toward the $3.5K support zone. Ethereum remains range-bound between $3.5K and $4K, with a breakout likely after the consolidation phase. A bullish breakout above $4K would pave the way for further upward momentum. The 4-Hour Chart On the 4-hour timeframe, ETH showed renewed strength after buyers stepped in near the ascending channel’s lower boundary. This buying activity sparked a fresh rally, driving the price toward the channel’s middle boundary, aligning with the critical $4K resistance level. However, the asset encountered a rejection at this zone, leading to a decline. Ethereum is now oscillating between the lower boundary of $3.7K and the $4K resistance. In the mid-term, further bearish retracement toward the lower boundary, followed by a renewed attempt to reclaim the $4K resistance, appears likely. A successful breakout above $4K could signal the continuation of Ethereum’s bullish trend. Onchain Analysis By Shayan This chart illustrates Ethereum’s Binance liquidation heatmap, highlighting potential price levels where significant liquidation events could occur. The clustering of liquidation levels within a specific range suggests that the price will likely move toward that zone. These levels serve as valuable indicators for predicting price direction and identifying areas of potential convergence. As shown, there is a notable concentration of liquidity just above the critical $4K resistance, representing the liquidation levels for short positions. This makes the $4K region an attractive target for whales and large institutional players, increasing the likelihood of a bullish breakout in the mid-term. The post Ethereum Price Analysis: ETH Rejected at $4K Again, Is $3.5K Next? appeared first on CryptoPotato .

Crypto Potato

You can visit the page to read the article.
Source: Crypto Potato

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Navy Kenzo and Jimmie Akinsola Become the Latest Sportsbet.io Ambassadors

Sportsbet.io, the world’s favorite crypto sportsbook, is celebrating the holiday season with two more blockbuster Crypto Potato

The Bitcoin (BTC) Bull Run Could End Sooner Than You Think: Analyst

TL;DR Bitcoin (BTC) surpassed $108,000 on December 17, with predictions of a possible $220,000 peak by March 2025. Bitfinex analysts foresee the bull run lasting until late 2025, with the price potentially hitting $339,000. Just a Few More Months? 2024 (so far) has been more than successful for Bitcoin (BTC), whose price has exploded by approximately 150%. Although BTC was going relatively strong at the start of the year, the actual resurgence seems to have started shortly after Donald Trump (who presented himself as the right choice for pro-crypto voters) won the presidential elections in America. Before the voting on November 5, BTC was trading at around $67,000, while approximately a month later, it surpassed the $100,000 psychological level. Earlier this week, the asset hit a new all-time high of over $108,000. In the past several hours, it experienced a correction and is now trading at around $104,600 (per CoinGecko’s data). BTC Price, Source: CoinGecko Numerous analysts suggest there is much more room for growth, while others believe the bull run will not last long . The X user Ali Martinez , for instance, predicted that BTC could climb to as high as $220,000 in March next year, which could mark the end of the bull market. He based the forecast on the asset’s historical performance in 2017 and 2020. Martinez also assumed that the ride to the aforementioned peak might be a bumpy one: “If Bitcoin behaves like in 2017 and 2020, then there will be a brief correction after reaching $110,000, a steep correction after hitting $125,000, a big correction at $150,000, and the end of the bull market at $220,000.” Still Away From the Euphoria Zone? Contrary to the aforementioned prediction , analysts at the crypto exchange Bitfinex think the asset has not yet reached “euphoric peaks.” According to them, the crypto market might be in the middle of the bull run, with its cycle top expected in the second half of 2025. The analysts envisioned a BTC price rally to as high as $339,000, fueled partially by the success of spot Bitcoin ETFs. The financial products “have emerged as a dominant force” and hold over 1.13 BTC. “While volatility is expected in Q1 2025, the broader trend points to further price appreciation, supported by ETFs, institutional adoption, and Bitcoin’s increasing prominence as a global asset. Investors should, however, remain vigilant for signs of overbought conditions as Bitcoin approaches its cycle top,” the research reads. The post The Bitcoin (BTC) Bull Run Could End Sooner Than You Think: Analyst appeared first on CryptoPotato . Crypto Potato