The price of Ethereum is still testing investors’ patience consolidates just under the levels of critical resistance. The cryptographic analyst called this episode “charging in an earlier high phase”, which suggests that the market got stuck in this area. The bulls are currently looking decisive breakthrough above $ 5,000But the analyst remains torn, whether ETH stops only before another height, whether he is preparing for a deeper testing.
The Ethereum price charging phase is probably brief -lived
Has a market expert identified as “Crypto Nova” characterized The current behavior of Ethereum prices as loading phases takes place near previous ups. Looking at the monthly chart, ETH reportedly returned to $ 4,800, brushing the levels that previously caused reversal. Historically, when Ethereum is approaching the former high, the shoot tends to leisurely down, because the supply is shorterly catching up.
However, Crypto Nova notes that this slowdown rarely means Last top. Instead, he often signals a fleeting balance against buyers. The analyst emphasized this The demand for ETH still highly exceeds supplyWhich means that brief -term interruption will probably be quickly absorbed.
Analyzing the price chart, Crypto Nova identifies two “magnetic” price zones above 6000 USD and USD 8,000, which serve as medium -term goals for Ethereum. These zones also represent Powerful liquidity pools that the market is inclined in the direction when it resumes the rush up.
If Ethereum manages to clearly immaculate the 5000 USD barrier, the likelihood of constant movement to these higher zones increases. Thanks to the price effect, maintaining a wider growth structure and repeatedly rejecting attempts at failure, ETH additionally strengthens its stubborn. In other words, the current consolidation emphasized by Crypto Nova is perceived as a hearty pause, not a signal Weakness or price exhaustion.
Configuration partna suggests re -processing before $ 5,000
Adding to the stubborn narrative Ethereum, Hardy, cryptographic dealer and analyst, offers A more tactical perspective using shorter time frames. On the hour chart, the analyst emphasizes that ETH showed Horny movement about USD 4,400 and USD 4,600 after you failed to keep the pace over your own 2021 of all time 4,865 USD. This raised the possibility of brief -term declines before the Ethereum tries the next breakthrough of the price.
Hardy identifies two unused daily interest zones, 4225 USD and 4,075 USD, because the key levels at which buyers will probably go back. These prices represent support areas that could provide solid entries for long items if the price does not go back.
Despite the possible brief -term variability, the hardy remains optimist Ethereum trajectory came. It suggests that the price is prepared for the modern highest in history, provided that the market respects the above support levels. The general Ethereum structure is still not stubborn, strengthening a wider campaign in the direction of 5000 USD and more.
A distinguished painting from Istock, chart from tradingview.com
