Ethereum's Battle: Can ETH Hit $4,000 This Week? Critical Levels Against Bitcoin
Will Ethereum (ETH) break through resistance and reach $4,000 this week? The crypto market is buzzing with anticipation, focusing on Ethereum's critical levels against Bitcoin (BTC). Recent market corrections saw Ethereum revisit a crucial multi-year support level, suggesting a potential rebound to $4,000. But analysts are carefully watching key resistance points.
Ethereum's Path to $4,000: Resistance and Support Levels
Reclaiming the $4,000 psychological mark, Ethereum is inching closer to the R1 pivot level at $4,137. But first, let's talk about what really matters for anyone considering a position in ETH right now. That resistance level at $2,825 isn't just a line on a chart – it's a psychological barrier. If ETH can reclaim the $2,100 level, the analyst predicts a rapid move toward $4,000 in a few months. However, some analysts caution patience.
Ethereum vs. Bitcoin: A Crucial Relationship
Michaël van de Poppe recently shared his insights on the two critical levels that Ethereum needs to watch against Bitcoin. However, in a recent tweet by Carl Moon, Ethereum is likely to gain strength against Bitcoin. Highlighting a horizontal support for Ethereum at 0.025 BTC, the analyst sees potential upside for ETH against BTC.
Impact of Crossing $4,000
Ethereum's surge past the $4,000 threshold has had a significant impact on the overall supply, pushing a substantial portion of it into a profitable state. According to Amb Crypto, this increased profitability could further fuel investor confidence. Bouncing off from the 50 SMA line, the recovery run limits the upside, though.
Upcoming Federal Reserve Policy and its Impact
With the next Federal Reserve monetary policy scheduled for mid-April, the market awaits potential catalysts that could drive further price action. Keep a close watch on market sentiment and regulatory news as they may heavily influence Ethereum's journey to $4,000.