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Home Ethereum

Ethereum Forming A Symmetrical Pattern – Key Resistance At $4,100

December 15, 2024
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Ethereum Forming A Symmetrical Pattern – Key Resistance At $4,100
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Este artículo también está disponible en español.

Ethereum is making another attempt to break above the $4,000 level as it edges closer to its all-time highs. Despite its strong fundamentals, doubts linger in the market regarding Ethereum’s performance this cycle, with some expecting it to underperform amid stiff competition from other blockchain ecosystems. However, Ethereum’s recent price action suggests that it is building momentum, keeping investors on edge for a potential breakout.

Related Reading

Top analyst Carl Runefelt recently shared a technical analysis, noting that Ethereum has encountered strong resistance near the $4,000 mark and is now consolidating within a symmetrical triangle on the hourly chart. This pattern often precedes a decisive move, leaving traders speculating whether ETH will break out to new highs or face a temporary pullback.

Ethereum’s performance at this key level will likely shape market sentiment in the coming weeks. A breakout above $4,000 could pave the way for a rally toward its all-time high, reigniting investor confidence. On the other hand, failure to clear this resistance might validate bearish concerns and lead to a retrace. As ETH remains at a critical juncture, all eyes are on its ability to navigate this pivotal zone and deliver the next major move.

Ethereum Preparing To Move

Ethereum has been grappling with significant resistance above the $4,100 level, leaving the market in suspense as traders anticipate its next move. With the price consolidating and showing signs of tension, Ethereum appears ready to make a decisive move in the coming days. The critical question remains: will it break higher, or is a pullback imminent?

Runefelt shared his insights on X, pointing out that Ethereum is currently trading within a symmetrical triangle on the hourly chart—a pattern known for signaling potential breakouts or breakdowns. According to Runefelt, Ethereum’s immediate future hinges on two key levels. 

See also  Reddit reveals its BTC, ETH holdings ahead of IPO, details here
Ethereum trading within this symmetrical triangle
Ethereum trading within this symmetrical triangle | Source: Carl Runefelt on X

A breakout above $4,100 would confirm a bullish trajectory, likely propelling ETH toward new highs. Conversely, a breakdown below $3,675 would signal bearish sentiment, opening the door for a deeper correction.

Related Reading

Runefelt emphasizes the importance of these levels, noting that the symmetrical triangle suggests mounting pressure that could soon lead to significant volatility. As Ethereum holds its position near critical resistance, the next few days are shaping up to be pivotal for determining its market direction.

Technical Levels To Watch 

Ethereum (ETH) is currently trading at $3,840 after failing to break above the critical $4,000 resistance level. While the price remains strong and within range of this key level, it needs to clear $4,000 to confirm the continuation of its uptrend. Without a decisive breakout, ETH risks losing momentum, leaving traders and investors cautious about the next move.

ETH testing crucial liquidity
ETH testing crucial liquidity | Source: ETHUSDT chart on TradingView

The $4,000 level has proven to be a significant psychological and technical barrier for Ethereum, with multiple attempts to break it being met with selling pressure. A successful breach of this resistance would likely pave the way for ETH to target higher levels, potentially pushing toward the yearly high of $4,100 and beyond.

Related Reading

However, if Ethereum fails to overcome this hurdle, the market could see a retrace to lower demand zones. The $3,500 area is emerging as a critical support level that traders are closely monitoring. A dip to this level could provide a strong foundation for a bounce, but losing this support might signal a shift toward bearish sentiment.

Featured image from Dall-E, chart from TradingView

READ ALSO

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Este artículo también está disponible en español.

See also  Ethereum rises 10% in 48 hours as whales make a splash

Ethereum is making another attempt to break above the $4,000 level as it edges closer to its all-time highs. Despite its strong fundamentals, doubts linger in the market regarding Ethereum’s performance this cycle, with some expecting it to underperform amid stiff competition from other blockchain ecosystems. However, Ethereum’s recent price action suggests that it is building momentum, keeping investors on edge for a potential breakout.

Related Reading

Top analyst Carl Runefelt recently shared a technical analysis, noting that Ethereum has encountered strong resistance near the $4,000 mark and is now consolidating within a symmetrical triangle on the hourly chart. This pattern often precedes a decisive move, leaving traders speculating whether ETH will break out to new highs or face a temporary pullback.

Ethereum’s performance at this key level will likely shape market sentiment in the coming weeks. A breakout above $4,000 could pave the way for a rally toward its all-time high, reigniting investor confidence. On the other hand, failure to clear this resistance might validate bearish concerns and lead to a retrace. As ETH remains at a critical juncture, all eyes are on its ability to navigate this pivotal zone and deliver the next major move.

Ethereum Preparing To Move

Ethereum has been grappling with significant resistance above the $4,100 level, leaving the market in suspense as traders anticipate its next move. With the price consolidating and showing signs of tension, Ethereum appears ready to make a decisive move in the coming days. The critical question remains: will it break higher, or is a pullback imminent?

Runefelt shared his insights on X, pointing out that Ethereum is currently trading within a symmetrical triangle on the hourly chart—a pattern known for signaling potential breakouts or breakdowns. According to Runefelt, Ethereum’s immediate future hinges on two key levels. 

See also  Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here’s Why
Ethereum trading within this symmetrical triangle
Ethereum trading within this symmetrical triangle | Source: Carl Runefelt on X

A breakout above $4,100 would confirm a bullish trajectory, likely propelling ETH toward new highs. Conversely, a breakdown below $3,675 would signal bearish sentiment, opening the door for a deeper correction.

Related Reading

Runefelt emphasizes the importance of these levels, noting that the symmetrical triangle suggests mounting pressure that could soon lead to significant volatility. As Ethereum holds its position near critical resistance, the next few days are shaping up to be pivotal for determining its market direction.

Technical Levels To Watch 

Ethereum (ETH) is currently trading at $3,840 after failing to break above the critical $4,000 resistance level. While the price remains strong and within range of this key level, it needs to clear $4,000 to confirm the continuation of its uptrend. Without a decisive breakout, ETH risks losing momentum, leaving traders and investors cautious about the next move.

ETH testing crucial liquidity
ETH testing crucial liquidity | Source: ETHUSDT chart on TradingView

The $4,000 level has proven to be a significant psychological and technical barrier for Ethereum, with multiple attempts to break it being met with selling pressure. A successful breach of this resistance would likely pave the way for ETH to target higher levels, potentially pushing toward the yearly high of $4,100 and beyond.

Related Reading

However, if Ethereum fails to overcome this hurdle, the market could see a retrace to lower demand zones. The $3,500 area is emerging as a critical support level that traders are closely monitoring. A dip to this level could provide a strong foundation for a bounce, but losing this support might signal a shift toward bearish sentiment.

Featured image from Dall-E, chart from TradingView

Tags: EthereumFormingkeyPatternresistanceSymmetrical

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  1. Prof40fap says:
    6 months ago

    Стеллаж кухонный Техно-ТТ СТР-524/1506

    Если вы ищете идеальное решение для организации пространства на вашей кухне или в ресторане, стеллаж кухонный Техно-ТТ СТР-524/1506 станет отличным выбором. Этот стеллаж сочетает в себе эргономичный дизайн, прочные материалы и функциональность, что делает его незаменимым элементом в любом кухонном или производственном помещении.

    Преимущества стеллажа Техно-ТТ СТР-524/1506

    Стеллаж разработан с учетом потребностей профессиональных кухонь и домашних хозяйств. Его характеристики включают:

    • Прочность и надежность: Изготовлен из высококачественной стали, стеллаж выдерживает значительные нагрузки, что позволяет хранить на нем тяжелые кухонные принадлежности и продукты.
    • Удобство в использовании: Благодаря открытой конструкции, вы сможете легко находить и брать необходимые вещи, что существенно сэкономит время на подготовку блюд.
    • Регулируемые полки: Возможность настройки высоты полок позволяет адаптировать стеллаж под ваши нужды, создавая идеальное пространство для хранения.
    • Легкость в уходе: Материал, из которого изготовлен стеллаж, легко моется и очищается, что делает его идеальным для использования в условиях повышенной влажности.
    • Современный дизайн: Эстетичный внешний вид стеллажа гармонично впишется в любой интерьер, будь то кухня ресторана или домашняя кухня.

    Спецификации

    Стеллаж кухонный Техно-ТТ СТР-524/1506 предлагает оптимальный баланс между размером и вместимостью. Он компактен, что позволяет использовать его даже в ограниченном пространстве, но в то же время достаточно просторен для хранения большого количества кухонных принадлежностей.

    Кому подойдет этот стеллаж?

    Стеллаж Техно-ТТ СТР-524/1506 идеально подходит для:

    • Ресторанов и кафе, где необходимо организовать рабочее пространство для поваров;
    • Кафетериев и столовых для хранения продуктов и посуды;
    • Домашних кухонь, где важен порядок и легкий доступ к кухонным принадлежностям;
    • Магазинов и складов для хранения товаров и материалов.

    Заключение

    Стеллаж кухонный Техно-ТТ СТР-524/1506 — это не просто элемент мебели, а важная часть вашего рабочего процесса. Он поможет вам поддерживать порядок и организованность на кухне, что, в свою очередь, повысит вашу продуктивность и качество работы. Не упустите возможность приобрести этот замечательный стеллаж, который станет верным помощником в вашей кулинарной деятельности!

    Стеллаж кухонный Техно-ТТ СТР-524/1506

    Пусконаладочные работы и техническое обслуживание

    Reply
  2. Barabannyy_daoi says:
    6 months ago

    Идеальный выбор для разделения материалов в строительной отрасли, с максимальной точностью сортировки.
    Барабанный просеиватель https://www.barabaniy-grohot.moscow .

    Reply

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