NewsPrice Analysis

Ethereum to Test Crucial Resistance at $3.9K ! ETH Price to Hit 4K Soon!

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The price of Ethereum has reached a key point, with considerable resistance, that will determine whether the bulls or bears prevail. The second-largest currency is slightly higher this morning at $3,864, as it continues to trade near the important $4,000 mark. 

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The popularity of non-fungible tokens (NFTs) and decentralized finance (Defi) has increased this year, driving up Ethereum Price. 

The recent approval of a Bitcoin ETF is another important driver of the general crypto market, with analysts speculating on an Ethereum ETF approval to follow.

Following a month of underperformance, Ethereum is starting to catch up to Bitcoin. The ETH/BTC pair was up 1.37% the time of publication. 

To support a run at the first big resistance level at $4,086, Ethereum would need to avoid the $3,730 pivot level. If there isn’t a long-term crypto rise, the first big resistance level will likely stop any further gains.

Before any retreat, Ethereum Price might reach resistance near $4,500 levels in the event of another extended breakout. $4,325 is the second significant resistance level. 

If the price falls below the pivot at $3,730, the first significant support level at $3,491 will be tested. Unless there is a significant sell-off this week, Ethereum should avoid the second major support level of around $3,135. 

Coinbase adds Support to two ETH based Altcoins

Coinbase, the largest cryptocurrency exchange in the United States, has added two Ethereum (ETH)-based altcoins to its portfolio. 

BadgerDAO (BADGER) and Rarible (RARI) are now available to buy, sell, convert, store, send, and receive on Coinbase.com and its iOS and Android applications, after their initial debut on Coinbase Pro.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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