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ETH

Ethereum Faces Critical 4K Resistance; Breakthrough Could Signal New Highs

The 4k zone has been tested three times already. From this level, many traders are expected to short Ethereum, creating immense pressure. To break through this zone, Bitcoin needs to at least stop falling; if Bitcoin declines further, the entire market will follow downward. Conversely, if there is an extreme rally, liquidity from Ethereum will shift to Bitcoin, preventing a breakthrough at 4k. Thus, Ethereum benefits if Bitcoin consolidates rather than declines sharply. If Ethereum surpasses the 4k zone, a new high is likely to be reached sooner or later. Besides shorting from 4k, I am considering a long position between 2800-3000 with targets at 4k and beyond.
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AI Analysis

The Ethereum price is approaching a significant resistance level at 4,000 USD, which it has failed to break through three times now. This level is crucial because it acts as a psychological and techni...

AI Recommendation

Traders should remain vigilant regarding Bitcoin’s trend, as it plays a pivotal role in Ethereum's future direction. Consider establishing long positions if Ethereum reaches the 2800-3000 support zone...

Disclaimer

The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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