Ethereum Poised To Break $4,000 As Price Tests Crucial Levels; Analyst

Quick Summary:

Achieving this bullish resurgence would require Ethereum to overcome significant resistance around $3,357 and $3,540, which are identified as strong order blocks.  Current Price Action At the time of writing,  Ethereum is trading at $3,370, having rebounded by 4.78% from a low of $3,219 in the past 24 hours.

RLinda’s analysis highlights that this corrective test of the MA-200 prompted a significant breakdown below the critical support level of $3,200, with Ethereum’s price bottoming out at $3,115 on July 25.

If they succeed, it could pave the way for a renewed bullish rally, potentially driving the price to break through key resistance levels and target the $4,000 to $4,900 range.  "The main task of the bulls is to keep the defense above the zone of interest at $3200.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: ETHUSDT Crypto news Ethereum price Ethereum news Crypto analyst Ethereum ETH Ethusd Ethereum Analyst ETH news Eth price Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 02:30:57 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 491 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 21846680

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