Ethereum Price Faces Key Resistance at $4,540 for Potential Rally
The Ethereum price is forming a bullish setup, according to analyst Merlijn the Trader. Key observations include:
- Buyers are entering the market after several rebounds.
- A triple bottom pattern indicates strong support, suggesting reduced selling pressure.
- The critical resistance level is set at $4,540. A breakout above this level could lead to a swift rise toward $5,000.
- The current momentum suggests readiness for upward movement once the resistance is cleared.
Market participants are closely monitoring the price action, as a breach of $4,540 may trigger significant buying activity.
