🚀 Ethereum faces the psychological resistance of $4,000 📈
The price of Ethereum (ETH) has struggled to stay above $4,000, despite the psychological levels, according to data from CoinMarketCap. On December 6, Ethereum reached a high of $4,077, but has since retraced.
Cryptocurrency analyst, Rekt Capital, highlighted in a recent report that Ethereum has maintained: renewable and sustainable energy. Ethereum has found support at the $3,000 level, a crucial point that has acted as a support level since November 9. This level has served as a consolidation floor, with Ethereum trading around $3,000 since August 3. Rekt Capital suggests that Ethereum could consolidate between $3,000 and $4,000 in the short term, with the possibility of a short-term drop of more than 10% from its current price of $3,466, potentially reaching the $3,000 region.
Factors that could drive a bullish move include:
The decrease in the supply of Ethereum on exchanges, which has reached an 8.5-year low of 9.2 million ETH in the last year.
The growing interest in Ether exchange-traded funds (ETFs), which could attract more capital and increase demand.
This scenario suggests that Ethereum has solid bullish potential in the short term, with a significant impact on the cryptocurrency market. However, market volatility and regulatory uncertainty remain key factors that could influence the price in the short term. 📈 #Ethereum #Cryptocurrencies 🚀
