Hey, what's up, everyone! 🚀 Have you ever wondered what is stopping the powerful Ethereum from breaking its own records? Well, hold on tight because here comes the juicy gossip, the good stuff that really matters.
Imagine that Ethereum is in a race and is almost at the finish line, but there is a giant wall that won't let it pass. That wall is called the resistance of $4,100. After a July that seemed like it was going to explode, the network is that Ethereum got stuck. It tried, yes, but couldn't get past that barrier and, boom, it fell back about 15%. 😮
According to experts like Michaël van de Poppe and Ted Pillows, that figure is not just any number; it's the last big obstacle before it skyrockets and makes history. That's why the price is currently in a tug-of-war.
And what happens if it falls?
Well, not everything is drama. Analysts are also giving us some data so we don't panic. They say there are some strong "bounce zones." The first one is between $3,200 and $3,400. If it falls there, there is a 70% chance it will bounce back up. And if it goes lower, there is the area of $2,800 to $3,000, which is an even firmer support, although the chances of reaching there are lower.
So, in summary, it's not that Ethereum has lost strength. On the contrary, it is gaining momentum, but it needs to break that barrier of $4,100 to show the world what it's made of. It's a battle of patience and nerves of steel for all those who bet on it.
Now, the question is, will Ethereum manage to break the barrier of $4,100 or will it stay stuck for a while longer? 🔮 Let's stay tuned!$ETH
