Ethereum back to 4k zone?

29 Jul

Unlike Bitcoin, the recent correction in the crypto market hasn't led to a break of support in ETHUSD case. Instead, bulls held the 2900 technical support level very well. Although the recent ETF approval led to some profit-taking, bulls returned to the market around 3100, establishing a higher low.

With new optimism back in the crypto market, I don't see ETH being left behind, and I expect a continuation toward the 4000 resistance level.

Technically, as I mentioned, we have a higher low relative to the 2900 support, and once 3400 is cleared, we could expect acceleration. This outlook is negated if the recent low does not hold.