Ethereum holders back in profit as ETH price gears up for $4K breakout

💡 DMK Insight

Ethereum’s recent surge to $3,585.17 has traders eyeing a potential rally to $4,000, but resistance at $3,800 could be a significant hurdle. With ETH back in profit, the sentiment is shifting positively, which could attract more buyers. However, the $3,800 level is critical; if it holds as resistance, we might see a pullback or consolidation before any further upward movement. Traders should watch for volume spikes around this level, as they can indicate whether the bulls have enough strength to push through. If ETH breaks above $3,800 with strong volume, it could trigger a wave of buying, pushing it towards that $4,000 target. Conversely, failure to breach this resistance could lead to a retest of lower support levels. It’s worth noting that while the bullish sentiment is palpable, the market can be fickle. A sudden downturn in broader crypto sentiment or negative news could quickly reverse gains. Keep an eye on related assets like BTC, as its movements often influence ETH’s price action. Watch for the next few days; a clear break or rejection at $3,800 will set the tone for the near term.