Ethereum Return To $4,000: Key Zones And Price Levels To Watch

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,169,348,939,197	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,169,348,939,197

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	332.02	0.56%	59,687.45	59,692.76	59,696.85

Price Change

Price Change %

Current Price

Bid Price

Offer

332.02

0.56%

59,687.45

59,692.76

59,696.85

High Price	Low Price	Open Price	Prev. Close	52 Week Range
59,937.89	59,295.31	59,296.96	59,355.43	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

59,937.89

59,295.31

59,296.96

59,355.43

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:27:20	0.001483	59,697.07	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:27:20

0.001483

59,697.07

USD

Price x Volume	Volume	Base Symbol	Related Pairs
45,394,040.09	761.30	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

45,394,040.09

761.30

Ethereum Return To $4,000: Key Zones And Price Levels To Watch

12/08/2024 9:00pm

NEWSBTC

Ethereum has struggled greatly underneath the bearish pressure that has been mounted on the crypto market over the last few weeks. The ETH price suffered multiple crashes that sent it toward $2,000 once more, shattering the expectations for a new all-time high in the third quarter. However, this decline may only be short-lived as one crypto analyst has suggested that the Ethereum price could be getting ready for another rally that could push it toward its previous highs. Ethereum Looking Promising On 1-Week Chart Crypto analyst RLinda has posted a promising analysis on the Ethereum price on the TradingView website. This analysis focuses on the ETH price on the one-week chart, which has maintained bullishness despite the crash. This follows the continuous accumulation from the low $2,000s level as the price recovers. Related Reading: Bitcoin Exchange Outflows Soar To Yearly High – Could This Fuel A Return To $70,000? The crypto analyst highlights that Ethereum is seeing buyback from the market following the crash. This suggests bullishness among investors despite the price remaining low at this point. As for the chart, the analyst points out that “a very promising technical situation is forming on W1.” RLinda proposes that there could be a number of promising conditions forming if the ETH price were to return to its global sideways range. In this case, the crypto analyst believes that Ethereum could be seeing a good cause to jump toward the $4,000-$4,800 range. Amid all of this, the crypto analyst maintains that the background for Ethereum is still quite bullish. “The liquidation (strong downward movement) and the subsequent active buyback indicates that the market is free of unnecessary traders and the train can now move in the right direction, it remains to get to the key station before departure,” RLinda stated. Key Levels To Watch The Ethereum price being bullish is positive for the cryptocurrency. However, there are still various important levels to watch that serve as important levels for the cryptocurrency to achieve this goal. This includes both support and resistance levels along the way. Related Reading: Celsius Takes Legal Action Against Tether In $2.4 Bitcoin Collateral Controversy In this case, RLinda places significant attention not he $2,717-$2,817 resistance area. Mainly, these areas serve as the most important resistance levels in this drive upward. According to the analyst, beating this resistance and forming support will provide the ETH price a promising liquidity target above $4,000. A full rundown of the resistance levels is $2,717 and $2,817, while the major support levels from here include $2,518, $2,425, and $2,400. RLinda believes that the whales’ Ethereum buyback shows that major players are still bullish. “After Friday’s test and pullback, the price is back to the level, which increases the chances of a breakout,” the crypto analyst said in closing. Featured image created with Dall.E, chart from Tradingview.com

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