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Ethereum hold 4000 dollar support

Can Ethereum hold 4000 dollar support?

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
Source: TradingView

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.

Ethereum hold 4000 dollar support
Source: TradingView

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.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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