Ethereum peaked below the $4000 mark briefly and rose back above but the question remains can Ethereum hold 4000 dollar support level?
The Ethereum price today is $4,230.68 USD with a 24-hour trading volume of $23,343,031,361 USD. Ethereum is up 3.36% in the last 24 hours, with a live marketcap of $500,934,073,743 USD. It has a circulating supply of 118,405,114 ETH coins.
Ethereum hold 4000 dollar support: Analysis
Yesterday we mentioned the support level of Ethereum saying “Ethereum is trying hard to keep up with the support level of $4000 however, we don’t see Ethereum succeed in it and drop to the local support level at $3937”. Yesterday’s chart is shown above. Now coming to today’s chart, Ethereum is bearish and stands above the support level last tested on October 28, 2021.
The support of $4000 being psychological can be important but technically it won’t be able to hold off the descend. The next support level is the shaded area shown in the chart at fib 0.5.