🚨 $ETH tests a resistance wall of 518 days — will it succeed in breaking through $4000? 📈🔥
Ethereum (ETH) is approaching a critical moment in its technical path, as it tests a historic resistance wall that has stood for over 500 days at the $4000 level.
The current price of ETH is knocking on the door of strong resistance between $4000 and $4200, after three previous failed attempts.
This level is considered a psychological and technical barrier, as massive sell orders worth $263 million have been opened between $3850 and $4000, according to a report by [The Coin Republic].
Whales have started to take profits, with the liquidation of buy orders worth $145 million in the past 24 hours, indicating the possibility of a temporary pullback.
However, the upward momentum remains intact, especially with expectations of interest rate cuts from the Federal Reserve, which have reached 85.5% according to Reuters — enhancing the risk appetite in the market.
📌 Potential scenarios:
• A clear breakout above $4000 with a strong weekly close could open the door to discovering new prices.
• A new rejection at this level could lead to a decline towards $3300, as analyst Michael van de Poppe predicted.
📢 To follow instant analyses and upcoming opportunities
Follow channel #CryptoEmad