Ethereum has once again failed to reclaim the critical $4K resistance level, leading to a notable decline in price. However, the cryptocurrency has now reached a significant support zone, where a rebound followed by consolidation is anticipated.
By Shayan
The Daily Chart
Ethereum’s $4K price region has proven to be a critical resistance zone over the past year, consistently halting bullish advances due to strong selling pressure.
Most recently, the price faced another rejection at this level, triggering a significant sell-off. This decline was further fueled by Federal Reserve Chairman Jerome Powell’s remarks, suggesting the central bank might pause its current policy of lowering key interest rates.
Despite this setback, ETH has found support at the $3K level, a crucial