Expert Says $6,400 Becomes a Magnet if Ethereum (ETH) Breaks This Big Hurdle
Main Idea
An expert suggests that if Ethereum (ETH) breaks the $4,000 resistance level, it could rally toward $6,400, which is seen as a key technical target.
Key Points
1. Ethereum (ETH) is currently trading around $3,909, nearing the crucial $4,000 resistance level.
2. Breaking the $4,000 barrier could trigger a strong rally toward $6,400, as per expert Ali's analysis.
3. The $4,000 level is both a psychological and technical hurdle, with heightened volatility observed around this price.
4. A decisive close above $4,000 is needed to confirm the bullish momentum, with potential risks of retracement to $3,600 if the level is not sustained.
5. Market conditions, including institutional interest and liquidity, could influence ETH's ability to maintain a breakout above $4,000.
Description
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is once again testing a major resistance level that could shape the next leg of its market trajectory. According to a recent analysis shared by prominent on-chain expert Ali on X, if Ethereum successfully breaches the psychological and technical barrier at $4,000, it could trigger a powerful rally toward $6,400. Ali describes this price point as a “magnet,” suggesting that once $4,000 is cleared, momentum and liquidity coul...
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