Ethereum News Update: Ethereum Struggles to Hold $4K Support While Meme Coin LILPEPE Boasts Potential 94x Returns
- Ethereum struggles near $4,000 as key support levels at risk of breaking, threatening a drop to $3,680 if $3,980 fails. - Despite strong DeFi activity and TVL growth, muted trading volumes and Bitcoin ETF outflows hinder ETH's upward momentum. - Meme coin LILPEPE gains attention with 94x return claims, leveraging Ethereum-compatible Layer 2 tech and $27M+ presale funds. - Technical analysis highlights $3,781 Fibonacci support and $4,400-$4,500 resistance as critical for ETH's short-term direction. - Mark
Ethereum (ETH) is currently challenging a significant resistance point near $4,000, as the asset struggles to regain upward momentum in a market characterized by mixed signals. The price is fluctuating around $3,985, which is below important support levels at $3,960 and the 100-hour simple moving average (SMA). This situation has sparked concerns that if ETH fails to maintain support at $3,980, it could revisit $3,840 or even drop to $3,680, according to a
The overall market environment remains complicated. Despite Ethereum’s network showing strength—with daily transactions surpassing 1.2 million and the total value locked (TVL) in DeFi platforms climbing 8% over the past week—trading activity has been subdued, limiting price gains, as noted in an
Technical analysis offers further insight into the
Investor sentiment is still split. Increased staking and TVL, especially on platforms like Lido and
The balance between Ethereum’s strong fundamentals and its short-term price swings highlights the market’s vulnerability. While the adoption of Layer 2 solutions and deflationary mechanisms provide a positive backdrop, the lack of sustained buying and the upcoming Fed inflation report add to the uncertainty, as mentioned in the Ethereum price prediction on crypto.news. For investors, the next few weeks may depend on whether ETH can reclaim the $4,500 level—a move that could either confirm the market’s resilience or reveal its weaknesses.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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