Ethereum Reclaims $4,400, Eyes $5,000 as Bitcoin Rivalry Intensifies
Ethereum, currently trading at $4,483, has shown renewed strength by reclaiming the $4,400 level. Investors are eagerly watching to see if this recovery can lead to a sustained breakout in the Ethereum price.
A clean breakout above $4,600 could propel Ethereum towards its previous local highs near $4,800, and potentially even $5,000. However, immediate support lies at $4,300, with the $4,000 level acting as a psychological barrier below that.
Ethereum's recent resurgence has narrowed the gap in its annual performance compared to Bitcoin. In the last quarter, Ethereum nearly matched Bitcoin's performance. Traditionally, Ethereum follows Bitcoin's initial strength in a larger bullish cycle, often leading the second phase of the uptrend after Bitcoin attracts capital.
The next major resistance for Ethereum is expected around the $4,500-$4,600 zone. If Ethereum can overcome this resistance and maintain its momentum, it could drive significant gains in the Ethereum price following Bitcoin's initial rally, as it has done in the past.
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