Ethereum is demonstrating significant price growth as it aims to surpass the psychological barrier of $4000. This article reviews current indicators and possible price scenarios.
Current Ethereum Price Dynamics
According to recent data, the price of Ethereum (ETH) has reached $3,673, a 3% increase from previous values. The chart shows a steady upward trend with multiple consecutive green candles and minimal downside wicks. This indicates a shift in market sentiment and that ETH is successfully overcoming key resistance levels.
Indicators and Resistance Levels
The Relative Strength Index (RSI) currently stands at 88.61, significantly above the traditional overbought threshold of 70. Such levels signal strong momentum but may also indicate short-term cooling. Historically, similar RSI levels have preceded pullbacks or consolidations within 5-7 days. If ETH breaks above $3,750, the next Fibonacci target will be $4,150.
Prospects and Predictions
Given current momentum, candle structure, and high RSI, Ethereum price is likely to continue rising. In the short term, several scenarios exist: under a bullish scenario, ETH may reach $3,950–$4,150, while a consolidation scenario will be around $3,200–$3,600. A bearish reversal is possible only if ETH drops below $2,950.
In conclusion, at this stage, Ethereum price is showing strong growth, but the possibility of short-term pullbacks should be considered. Future trader actions may depend on changing market conditions.
