$ETH Ethereum Price Analysis: March 13, 2024

Current Price: $3,921.63 (as of 7:00 PM PST)

Change: +0.16% over 24 hours

Key Points:

Rallying but Facing Resistance: Ethereum has been on a tear lately, surging past $4,000 for the first time in recent months. However, it's currently facing resistance at this level.

Technical Analysis:

The daily chart shows a bullish trend with higher highs and lows.

RSI suggests the market might be overbought in the short term, indicating a potential pullback.

The 4-hour chart hints at continued bullish momentum with room for further growth before a correction.

Sentiment: Market sentiment remains optimistic, with positive funding rates suggesting traders expect further price increases. However, the recent decline in approval odds for a SEC Ethereum ETF could dampen spirits.

Overall, Ethereum is in a strong position, but a short-term correction is possible. Keep an eye on price movements around the $4,000 resistance level.

Disclaimer: This is not financial advice. Please do your own research before making any investment decisions.