Ethereum has continued its upward trajectory, currently trading around $3,776 with a 3.25% gain over the past week, despite a minor dip of 1.91% in the past 24 hours.
The surge has brought the world’s second-largest cryptocurrency closer to a critical resistance level at $4,000, raising concerns among analysts about a potential pullback.
Crypto analyst Michaël van de Poppe highlighted that Ethereum remains in a bullish momentum phase but cautioned that the rally might be nearing exhaustion. In a post on X, he noted that ETH is likely to face strong resistance at $4,000, potentially triggering a sharp correction once that level is tested and rejected.
On the technical side, van de Poppe’s chart indicates that liquidity has already been taken at previous highs and Ethereum may soon enter a “target zone” where price action tends to stall or reverse. The RSI also suggests the asset is approaching overbought conditions, adding to the risk of a near-term reversal.
Ethereum’s market cap currently stands at over $455 billion, with 24-hour trading volume exceeding $33.7 billion, signaling strong market activity. However, traders appear cautious, as many are watching for signs of rejection at the $4,000 zone before making further moves.
Whether ETH can break through the resistance or face a harsh correction remains to be seen, but for now, analysts warn that the next few days could be pivotal for Ethereum’s short-term trend.
