Ethereum (ETH) is again approaching one of the most important psychological and technical levels in its recent history: the $4000 level. After a noticeable surge over the past weeks, the ETH price currently stabilizes above the $3700 level, supported by positive momentum stemming from several fundamental and technical factors.
Catalysts:
1. General market optimism: The bullish performance of Bitcoin stimulates liquidity flow into altcoins, primarily Ethereum.
2. Institutional interest: Increasing speculation around the possibility of approval for a spot Ethereum ETF in the United States, creating a sense of positive anticipation.
3. Network activity: An increase in transactions and smart contracts on the Ethereum network reflects a rise in actual usage.
From a technical perspective:
The main resistance: $4000 remains a psychological and technical barrier. Exceeding this level could open the door towards extended targets ranging between $4200 and $4500.
The current support: $3600 is a pivotal support level that should be monitored, as it could form a launch pad if tested and proven strong.
Relative Strength Index (RSI): Still in a neutral to bullish zone, indicating the potential for the bullish momentum to continue without clear overbought conditions so far.
Summary:
Although breaking the $4000 level has not yet been achieved, the current indicators support a positive scenario, especially if bullish sentiment continues in the overall market. However, real breakouts need confirmation with strong trading volume to avoid false buying traps. Close monitoring over the coming days will be crucial to determine the next direction.
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