Ethereum News Today: Ethereum Stabilizes Above $4,430, Eyes $5,000 Threshold

Ethereum (ETH) appears to be strengthening its position as it stabilizes above the $4,430 level, with market structure suggesting that the $5,000 threshold is within reach. The price has shown resilience, bouncing off this support zone and forming higher lows on the daily chart, a sign of an ongoing uptrend since mid-July [1]. Technical indicators such as the 26 EMA provide short-term support, while buyers continue to accumulate during dips, maintaining the broader bullish trajectory [1]. However, concerns are emerging regarding declining trading volume during the most recent rebound, which could signal weakening conviction among buyers and potentially lead to more erratic price swings [1].

Shiba Inu (SHIB) is facing a more challenging scenario, as it consolidates within a narrowing range and encounters four key resistance levels. The 26 EMA currently acts as a short-term pivot, but repeated rejections at this level suggest that additional volume is needed to break through. The 50 EMA and 100 EMA also pose significant hurdles, compounded by a descending trendline drawn from recent swing highs [1]. Even if SHIB manages to overcome these, the 200 EMA looms as a long-term resistance, often marking the boundary between bullish and bearish phases [1]. Analysts caution that without a decisive move with rising volume, further consolidation is likely before any clear breakout can occur [1].

Bitcoin (BTC) is testing a critical turning point near the $118,367 level, where a growing battle between buyers and sellers is unfolding. After a sharp pullback from the $124,000 range, BTC has found temporary support near the 26 EMA, which currently resides between $117,000 and $118,000. Holding this level could pave the way for a fresh upward move, but breaking below would invite a retest of the $115,000 support zone [1]. The decline in volume during the recent pullback suggests that selling pressure is tapering off, reinforcing the idea that this correction is more of a pause than a reversal [1]. The RSI, currently at 54, also supports a neutral to slightly bullish outlook, indicating that the market is not yet oversold and has room to rally if buying interest picks up [1].

The broader market sentiment has been influenced by external factors, including U.S. Federal Reserve dynamics and political narratives. The ongoing debate between the Federal Reserve and political figures has contributed to a bullish environment for cryptocurrencies, with Ethereum, XRP, and emerging tokens like Rollblock seeing notable gains [1]. However, volatility remains a key risk, and investors are advised to remain cautious as market sentiment shifts rapidly.

Ethereum’s ability to hold above $4,300 to $4,400 in the coming days will be crucial in confirming the sustainability of its current uptrend. If bulls can maintain pressure and volume stabilizes, the $5,000 level could transition from resistance to support [1]. For Shiba Inu, breaking through the four resistance levels will require a combination of stronger volume and improved market sentiment. As for Bitcoin, the key focus remains on the $118,367 pivot, with further gains above this level signaling a potential resumption of the bullish trend and a decline indicating increased pressure.

Source: [1] Ethereum 5000 Looks Secured (https://u.today/ethereum-eth-5000-looks-secured-shiba-inu-shib-4-resistances-ahead-is-bitcoin-btc-giving-up)