The cryptocurrency market has experienced sudden rises recently and Ethereum has also seen a significant increase.🚀 However, as the price approaches a significant resistance level, there is a possibility of rejection.📉

Ethereum's approach to the 100- and 200-day moving averages serve as important resistance levels. If the price is rejected in this range, there could be a return to the 1.6K support.📊

On the other hand, if buyers can push the price above this critical zone, the bull market may revive and further appreciation may occur.🐂

On the 4-hour chart, it is seen that Ethereum displays a positive outlook and there may be an upward movement in the short term.📈

However, the price approaching a significant resistance zone could hinder the current rise. Therefore, investors should closely monitor key levels.🧐

So, in your opinion, in what direction will the Ethereum price move? We are waiting for your comments!👇😉