The price of Ethereum spent the last weeks in Wide consolidation zonetesting a stubborn rush when analysts predict this Another great breakthrough. One market expert emphasized the critical level of ETH, which suggests that as long as the second largest cryptocurrency can maintain above this level, its path to exceeding the milestone of 5000 USD remains intact.
The price of Ethereum faces a critical level of USD 4,400
According to market experts, Daan Crypto Trades in X Media Social, The last Ethereum action was uncertain After two ponderous trade weeks. Chart of analytics can be seen This ETH oscillates from $ 4,100 to 4,800, with several tips and liquidity grips, creating false movements both stubborn and bear.
Despite these fluctuations, the $ 4,400 zone, which is located around the 200-day movable (MA) average on a 4-hour table, still acts as a key level of support stands between ETH and a milestone of $ 5,000. Daan Crypto Trades noticed that this critical support is not only technical, but also in accordance with Powerful levels of accumulation.
The analyst emphasized this Bitmine Immerson Technologies, Inc. (BMNR) It is constantly added to the position, although at a slightly lower rate, because the value of net assets (NAV) flows. This shows that as long as Ethereum can maintain its price above the level of support $ 4,400, buyers can remain under control. The chart clearly illustrates this battle for support. DIPS ETH below $ 4,500 Until now, they were brief -lived, and the price is consistently jumping to the range of consolidation.
This multiple defense strengthens the case of Ethereum to keep the momentum and build a basis for running above $ 5,000. For now, the accumulation of patients in the consolidation zone seems to be a market strategy, because cryptocurrencies are preparing for a potential breakthrough after equalizing wider conditions.
$ 5,000 is just a matter of time
Daan Crypto trades in the control analysis strengthened His stubborn view, noting that Ethereum is basically in the waiting room “$ 5,000”. The chart of the analyst emphasizes this view, showing a robust reflection of ETH Re -supplementing the region $ 4,400. Because both 200 mA and 200 EMA on a 4-hour chart acting as basic support, the cryptocurrency structure seems intact despite short-term variability.
Daan Crypto Trades suggested that at least 4000 – 4100 USD is still possible, the market will rather not maintain a failure below this zone, if ETH has USD 4,400. In other words, maintaining this critical support can pave the way for the modern ups of all time.
The chart also reflects market resistance, and ETH rejected the minima and quickly climbed in the direction of 4,600 USD. Such a reflection often signals Bulls can prepare for the next leg above. If the rush persists, Ethereum will test his previous The highest in history $ 4,868 And a fracture above 5000 USD can only be a matter of time.
A distinguished picture from Getty Images, chart from TradingView.com
