ETH plummeted when unable to hold $4,000, is there a chance to recover?
ETH is currently struggling to stay above $4,000, but there is still recovery potential. Some analysts believe that the $3,000 level has become psychological support, and ETH could accumulate in the $3,000 - $4,000 range in the near term. However, there is also a possibility of the price falling below $3,000 in the short term. The recent sharp drop can be attributed to many factors, including Jump Crypto moving large amounts of ETH to exchanges, but positive factors such as reduced ETH on exchanges and increased capital inflows into spot Ether ETFs also support resilience. The increase in ETH staked and inflows into Ether ETFs also shows investor optimism. The formation of an inverse head and shoulders pattern on the daily chart is also a positive signal. However, it should be noted that this is only analysis and prediction, the cryptocurrency market is still very volatile.
