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PA of Ethereum rebounded after gaining support at the decisive level of $3.5K. This area served as a crucial accumulation zone, facilitating increased buying pressure and subsequent pump. As the price climbs, the resistance level at $4K becomes a key psychological and technical barrier that requires a decisive breakthrough to establish a sustained pump trajectory.
Currently, Ethereum is consolidating within the range of $3.5K-$4K, indicating a possible breakout in either direction. A successful breakthrough of the $4K threshold could lay the foundation for a new round of Rebound and confirm a bullish sentiment. Conversely, a rejection at this level may result in further consolidation or retracement within the current range.