Since Ether started its big rebound cycle in 2023, the market has begun to recover.
Although its performance is slightly inferior compared with the big pie, it has recently hit the $4,000 mark again and successfully broke through the test of the large cycle suppression line. It is expected to make a strong return.
The current price of Ether is around $3,845, approaching $4,000.
This price point has constituted significant resistance in the past period of time, resulting in multiple corrections, which fully demonstrates that the selling pressure from above is quite heavy.
Only by completely and effectively breaking through the $4,000 to $4,100 area can we further expand the upside space and then test upwards to $4,500 or even higher.
At the same time, the key support level near $3,500 below cannot be ignored, as it is the low area formed during the recent bullish move.
If the price pulls back to around $3,500 and stabilizes, you can pay attention to whether there is a signal to stop the decline, and you can consider a low-level accumulation plan at that time.
On the other hand, if the support area is broken, then you need to remain cautious in the short term. It is wise to stay on the sidelines and wait patiently for a more ideal buying opportunity.
