Wow, Ethereum has a sell wall at $4,800! Could the second-largest crypto in the world have the strength to break this barrier and soar to new records? 🚀
Last week was a rollercoaster for Ethereum. Just when it seemed that the new ETH ETFs were going to keep pouring billions in wildly, boom, they suddenly registered their first outflows in over a week. And what happened at the same time? Well, the price of ETH hit a ceiling just before reaching its all-time high from 2021. 📉
Here things get interesting. There is a massive "sell wall" at $4,800, a zone where billions of dollars in sell orders have accumulated. Analysts see it as the last major test for Ethereum. If it manages to break that barrier with good buying volume, it will not only be a technical achievement but a psychological one. People would get emboldened, and we could see ETH shoot up to new all-time highs. It would be a party! 🎉
But not everything is rosy. While some see a possible bullish explosion, other analysts are keeping one eye on the brakes. They see signs of exhaustion in the price of Ethereum and do not rule out a bearish pullback. A technical analysis suggests that we could see a drop of more than 20%, bringing ETH down to $3,375. Almost nothing! 🥶
So, while optimists hope that the $4,800 wall will turn into a launch ramp, the cautious prepare for a possible correction. The future of Ethereum is at a breaking point. Will we see an epic leap or a painful stumble? $ETH
