The crypto market had a bullish trading day today as the price of Ethereum surged more than 7%, leading the rally we saw play out in the Altcoin market today.
However, this price rally only pushed the ETH price up to the $4,400 key resistance in the 4-hour timeframe before fading out again. This resistance has remained unbroken for Ethereum since its creation!
And as far as the price continues to trade below this $4,400 key level in the 4-hour timeframe, there is a very high probability that we might see a bearish sell-off in the coming days.
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Can The Ethereum Bulls Break Through?
Yes, it is very possible for us to see the Ethereum price rally through this $4,400 key resistance. However, for that to happen, we need to see more bullish momentum come into the Ethereum market in the coming days.
A price break like this would push the ETH price into new ATHs as the altcoin price has never broken through the $4,400 price region before in the past.
But that bullish move is yet to happen, and as far as the price continues to trade below the $4,400 key resistance, we might continue to see the bulls struggle to keep the current bullish momentum up for long! Especially in the face of this massive resistance that we are seeing big sellers pile into at the moment.
The Ethereum price is currently trading at a key level in the 4-hour timeframe. This $4,400 resistance region can play a major role as to what trend the Ethreum price might take in the coming days.
A price break and close above this 4-hour resistance could lead to the next Ethereum bull run and subsequent Altseason for cryptocurrencies this year.
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