Fancy a break, mate? Amid the latest optimistic headlines on the trade front, cryptocurrencies are starting to come up again after a bit of a setback in the middle of last week. Over the weekend, we’ve seen a resurgence in Ethereum in particular as it wipes out the losses from Wednesday amid a drop towards $3,600.
As price now moves back up to its highest since December last year, the question once again is will we see a potential break of $4,000? That has been arguably the biggest level in stopping the price action breakout for Ethereum for the longest of time.
It was only one previously that we ever really saw a clean break for Ethereum above the key level and that was back in late 2021. That didn’t last though, with the peak coming just above $4,800 before falling back. In similar vein, Bitcoin also broke to fresh record highs above $60,000 at the time before falling back to under $20,000 in the following summer. How the times have changed, eh?
Throughout last year, Ethereum failed to firmly break the $4,000 level. So, this will be one of its biggest tests yet. If buyers can seek a break here, the sky’s the limit. Otherwise, another rejection might just mark the high we’ll be seeing for the rest of the year.
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