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Ethereum making headlines again as the price moves closer to the critical resistance level at $4,100. After building steady upward momentum, the bulls seem determined to regain control and challenge this key barrier. Historically, this level has been a difficult hurdle for ETH, but recent price action indicates growing buyer confidence.
As ETH moves higher, traders are keeping a close eye on whether this is possible collection has what it takes to finally break through the resistance and pave the way for further gains. With the stakes high and the momentum grows, the $4,100 level could be the key to Ethereum’s next big move. Will the Bulls rise to the challenge?
Ethereum price is approaching the crucial resistance level at USD 4,100
ETH is currently trading above the 100-day Simple Moving Average (SMA), indicating a bullish trend. After a strong rebound from USD 3,670, the cryptocurrency has gained steady upside and is gradually approaching the key resistance level at USD 4,100.
This positive price promotion suggests that market sentiment is shifting in favor of the bulls, with increasing buying pressure pushing Ethereum closer to this critical barrier. As the price moves closer to $4,100, traders are keeping a close eye on whether ETH can break through this resistance and maintain its bullish momentum, potentially paving the way for more growth.
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Furthermore, to support this outlook, the 4-hour Relative Strength Index (RSI) reveals strong positive sentiment for Ethereum. The RSI has risen to 63% and is recovering from an earlier dip to 53%. Significantly, this upward movement indicates increasing buying Busy and reflects a shift towards bullish momentum.
As the RSI rises, it suggests that Ethereum is gaining strength potential for even more benefits. So if ETH stays above the key thresholds, the crypto asset could have the strength to break the $4,100 mark. resistance level.
A break above the $4,100 mark could trigger ETH’s next bull run
A outbreak above the $4,100 resistance level could serve as a catalyst for Ethereum’s next bull run, unlocking notable upside potential. This level has long been a critical barrier and represents psychological and technical resistance to ETH. Should the price rise above $4,100, this would be a signal of a change in price market momentum, with the bulls firmly in control and ready to drive Ethereum to the $4,863 resistance level and beyond.
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However, it is important to note that failure to break $4,100 could lead to a pullback, which could lead to a pullback lower. support levels. A rejection at this key level would raise concerns about the sustainability of Ethereum’s bullish momentum, prompting traders to reassess their positions.
Currently, Ethereum is trading at around $3,947, with a market cap of $475 billion. Over the past 24 hours, ETH has seen strong trading volume of $30 billion, indicating strong investor interest and healthy market liquidity as Ethereum approaches key resistance levels.
Featured image from Unsplash, chart from Tradingview.com
Credit : www.newsbtc.com
