$ETH

Ethereum (ETH) Return to $4,000 is Imminent Once It Breaks This Resistance

Ethereum is showing the potential to break the resistance as 3.90 million addresses bought 1.62 million coins.

The low holding period indicates low selling pressure and a potential rally in ETH price.

Analysis shows that Ethereum price is above the Ichimoku cloud, indicating that it could rally towards $4,109.

From a technical perspective, Ethereum has risen above the Ichimoku cloud. The Ichimoku cloud is an indicator that determines support and resistance. When the cloud is above the price, it indicates resistance.

But when the price is above the cloud, it indicates support, which could push the price higher. Therefore, for Ethereum, the cryptocurrency could rally to $4,109. If the bulls maintain the line above $4,000, the value could rally to $4,500.

But if the bears take control, this may not be the case. In this scenario, Ethereum price may drop to $3,111. If selling pressure intensifies, the price may drop below $3,000.