Ethereum’s Elegant Dance: Will ETH Waltz Past $4K or Trist with Resistance? 💃📉🚀

If Ethereum were a romantic hero, it would be just about to sweep us off our feet, only to take a graceful pause at the $4,000 crest—an elusive peak where hopes and FOMO collide with chilly resistance. Ah, the thrill of the chase! After flirting with lofty heights, ETH has gracefully bowed back, leaving investors pondering whether the next act is a breakout or a tragic encore. Meanwhile, the on-chain whispers and chart flirtations suggest a bullish rendezvous—if only the price would dress up for the occasion. 🎩✨

Technical Analysis

Our dear ETH’s daily visage remains as radiant as ever despite taking a modest bow at $3,500. Having strutted past the $2,800 gateway and flirted dangerously near $4,000—just like a dashing gentleman at a ball—the price has pulled back, casting an eye toward support. The RSI, no longer overexcited, lounges comfortably around 56, hinting perhaps that the night of ascent is not quite over yet. Meanwhile, the golden cross—its beauty marked by moving averages—confirms the bullish posture, promising that as long as ETH stays above $3,500, the dance continues. Break this support, and it’s back to the playgrounds of $2,800 or even $2,500—less glamorous, more risk. A handsome step above $3,700 might just tempt the gods of liquidity to push us toward $4,100, and if fortune favors us—a cheeky break beyond that could send ETH pirouetting all the way to $4,500. 💃💸

The 4-Hour Chart

In the short-term ballroom of the 4-hour chart, ETH’s recent decline mirrors a lover’s disappointment—failing to ascend past the $4,000 mark and slipping down the slope of a rising wedge, a pattern as predictable as a love affair’s eventual exhaustion. The RSI divergence whispers caution, signaling waning momentum, as ETH finds a modest refuge around $3,350–$3,500. The battleground for hearts and minds is set between this zone and the elusive $4,000, where a decisive break could either rekindle the flames or plunge us into the cold depths of $3,100. Hold tight—romance with risk is a most exhilarating pursuit. 💘⚔️

Onchain Analysis

The Exchange Supply Ratio — Less Supply, More Sighs?

Ah, the ethereal dance of supply! The Ethereum Exchange Supply Ratio—an oft-overlooked suitor—continues its slow decline to a multi-year nadir of 0.13. This cautious retreat suggests holders are hoarding their precious ETH—perhaps nestling it in cold safes, staking contracts, or hidden vaults. Less ETH on exchanges means fewer coins to tempt sellers, a sign that patience is the virtue of the wise and perhaps the wealthy. Amidst the chaos of volatility, investors seem content to hold tight, awaiting the grand crescendo. Unless, of course, a sudden influx of supply spills forth like uninvited guests at a fancy soiree, causing a commotion. Until then, the market remains as bullish as a morning in May—ready to bloom or burst. 🌸💼

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2025-08-04 15:08