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The Ethereum price just broke through its strongest resistance on the 4-hour price chart. We have been talking about this key resistance for a while now, and how a bullish breakout like this could open Ethereum’s price for a new bull run!
And right now Ethereum has finally accomplished this breakthrough! The ETH has broken through, tested, and is ready to go parabolic in the coming days!
In this Ethereum analysis, we will be talking about this 4-hour key level and why the bulls must hold it for this massive bull run for Ethereum to play out all through the remainder of this year!
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Ethereum $4,000 Key Level!
This $4,000 key zone served as a major resistance for the Ethereum price on two different occasions in the past, indicating its importance to the current trend in Ethereum.
The breakout we are currently seeing play out pushes the Ethereum price into uncharted territory. This means we might see increased volatility come into the market soon!
Ethereum Bullish Prediction!
Ethereum is currently trading in the bullish territory but for this bullish prediction to remain valid, the Ethereum price must respect and continue to trade above this $4,000 support region in the 4-hour timeframe.
A break below this key support only pushes the Ethereum price back into the bearish territory, putting an end to the ETH bull run even before it started!
Final Verdict!
Ethereum is getting ready to make a massive move to the upside in the coming days. This move could see us surging past the $5k price region at any time!
But for this bullish prediction to remain valid or even have the potential of playing out in the coming days, the Ethereum price must respect and continue to trade above the $4k key support region in the 4-hour timeframe.
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