Ethereum Dey Eye $4,000 Breakout as Support Hold for $3,500
Ethereum price don pull back after e test the $4,000 resistance now e dey test support for $3,500. For daily chart, Ethereum price action still dey bullish, e show by golden cross (100-day MA pass 200-day MA) and RSI dey cool down from overbought levels. If e break under $3,500, e fit make ETH drop go $2,800, but if e fit take $3,700 back, e fit set stage for rally wey fit reach $4,100–$4,500. For 4-hour chart, e show say rising wedge don break down with short-term range between $3,500–$3,750. For on-chain, exchange supply ratio reach multi-year low of 0.13, wey mean say sell pressure dey reduce as holders dey move ETH comot from exchanges. Overall, technical and on-chain metrics dey lean bullish for possible $4K breakout.
Bullish
Di analysis dey combine technical indicators and on-chain metrics join, dem dey point to say market fit go bullish. Daily chart golden cross and RSI normalization show say buying momentum fit don strong again, and the 4-hour chart wey dey range-bound consolidation set stage make price continue go up if dem collect $3,700 back. The exchange supply ratio wey reach multi-year low mean say sellers no go too pressure quick quick. For history, the kind setup wey get cooling RSI after overbought condition plus supply wey dey hold off exchange na di one wey usually come before big breakout, like ETH surge wey pass $3,500 for mid 2024. Short term, traders go dey watch support for $3,500 and resistance near $4,000, and if breakout succeed, e fit spark more upside. Long term, low exchange balances wey hold steady plus bullish technical structure go support ETH price to dey go up.