Ethereum (ETH) is currently facing challenges in surpassing the $4,000 price level, a point at which it has faced rejection multiple times since March 2024. Recently, ETH's price dropped by 24%, experiencing a decline from $4,087 to $3,097. Despite a slight recovery, Ethereum remains below the $4,000 threshold, now trading at $3,475.
This series of rejections and price drops highlight persistent resistance, prompting questions about the factors preventing Ethereum from breaking through this crucial price level. Market dynamics, broader economic conditions, and investor sentiment could all play a role in ETH's struggle to reach and maintain higher prices.
