Ethereum Approaches Key Resistance at $4,250: What Could Follow a Breakout or Reversal?
Main Idea
Ethereum is nearing the critical $4,000–$4,250 resistance level, which could determine its next major price movement, with potential targets up to $7,200 if the breakout succeeds.
Key Points
1. Ethereum is currently trading at $3,921.74 and has built strong momentum, reigniting hopes for a breakout.
2. Key resistance levels for Ethereum are $2,150, $3,650, and $4,250, with $4,000–$4,250 being a historically significant barrier.
3. Analysts note that Ethereum has completed the Wyckoff cycle’s 'Spring' phase and entered the 'SOS' stage, indicating a shift from disbelief to FOMO.
4. The $4,000–$4,250 range has rejected Ethereum six times in the past 4.5 years, but a successful breakout could lead to a surge toward $7,200.
5. Traders are closely watching this level, as it could shape the next major market cycle for Ethereum.
Description
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