Ethereum’s Price Plummets: Will $4,000 Hold for the Next Rally?

Ethereum experienced a significant downturn over the past 24 hours, dropping by 4.35%. This decline has renewed concerns that the second-largest cryptocurrency might soon dip below the critical $4,000 mark. While technical indicators suggest an upward trend remains in play, Ethereum’s current correction is causing caution among analysts. The immediate resistance level sits at $4,800, while a crucial battleground for bulls and bears has emerged around $4,000. Analysts observe that the Stochastic RSI has dipped toward weaker levels, signaling reduced momentum, while the market awaits a resurgence in demand.