The high yesterday touched $3,941 before price action fell back in US trading. That saw sellers try to push the boundaries but buyers were seen defending at the 200-hour moving average near $3,736 earlier in the day. And now we’re starting to see another push higher in Ethereum as buyers remain fixated on testing the pivotal $4,000 level.
As Wall Street continues to hang in there around fresh record highs, the bullish momentum is still very much holding for cryptocurrencies as well. The big test for overall risk and market appetite though will come from big tech earnings tomorrow and on Thursday. That might also influence the fate of Ethereum in whether or not we will be getting that test of the figure level.
The $4,000 mark is a big one to watch, as highlighted yesterday here.
This article was written by Justin Low at investinglive.com.
