InstaForex

September 2, 2021

Beautiful! Looks Like Ethereum (ETH) Is Ready To Go To $ 4,000!

 Ethereum saw a pretty good start to the September market opening, with price movements seen signaling to head to $ 4,000.


Ethereum jumped 13% in yesterday’s trading session hitting a recent high of $ 3,842.


From a perspective, Ethereum has overtaken the top 5 cryptocurrencies including BTC 5%, ADA 6%, BNB 7%, XRP 7%in yesterday’s trading session.


It is also assessed that current sentiment has strongly supported the price movement of ETH, one of which is the London hard fork ‘EIP-1599’.


Next, examine the current movement chart of the ETH/USDT price.


ETH is seen facing the resistance level that is often tested in the May trading session, the $ 3,800 resistance level is the resistance level.



From a technical point of view, ETH is seen to remain with a positive price movement and is testing the $ 3,800 resistance level.


If ETH lasts a long time testing the $ 3,800 resistance level, ETH is seen to have the potential to break that level and head to the $ 4,000 level.


However, if the price movement again shows a bearish pattern, the RBS (resistance become support) level around $ 3,300 will be tested first to either make a rebound or continue the decline to a lower level.


At the time of writing, Ethereum is trading around $ 3,760 up over 9% in the last 24 hours.