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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 . Bitcoin World

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Dubai Police Team Triumphs at KuCoin Sponsored 2024 Dubai Open Gov Padel Cup

DUBAI, UAE, Dec. 18, 2024 /PRNewswire/ — The 2024 Open Padel Cup for Government Institutions, proudly sponsored by KuCoin, concluded successfully at the Just Padel – Mina Rashid on Dec 15th. The event witnessed competitions among various government departments, showcasing exceptional skill and sportsmanship. Prior to the competition, a special luncheon sponsored by KuCoin took place from 12:00 PM to 2:00 PM in the VIP lounge at Just Padel. During the luncheon, representatives from the Dubai Sports Council, KuCoin, and the media engaged in meaningful conversations. This remarkable tournament took place over three exciting days, with the final day of the champion match on Sunday. This year’s tournament saw the participation of 50 governmental sectors, turning the event into a spectacular showcase of talent and camaraderie. The final matches were intense, with the winning team crowned amidst cheers and celebration. KuCoin, alongside officials from the Dubai Sports Council, presented the awards to the victors as title sponsor, celebrating their outstanding achievements. The collaboration between KuCoin and the Dubai Sports Council has been highly praised by government officials. They expressed gratitude for KuCoin’s support in promoting a healthy lifestyle and sports within the community. “The DSC is proud to partner with KuCoin, whose support as the title sponsor has been instrumental in making this event a success. Events like these showcase the exceptional talent within our community and inspire a culture of fitness, excellence, and camaraderie,” remarked Imran Aljasmi, Director of Communication and Public Relations of DSC. The successful partnership highlights KuCoin’s ongoing commitment to the Dubai market and its dedication to fostering community relations through sports. This event marks another significant milestone in KuCoin’s series of upcoming campaigns in Dubai, emphasizing its long-term commitment to supporting local initiatives and enhancing the vibrant community life in the region. About KuCoin Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 37 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence. Bitcoin World