{"id":89440,"date":"2026-05-04T12:18:26","date_gmt":"2026-05-04T12:18:26","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=89440"},"modified":"2026-05-04T12:18:26","modified_gmt":"2026-05-04T12:18:26","slug":"ethereum-eth-at-a-crossroads-another-rejection-or-this-time-it-will-be-different","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=89440","title":{"rendered":"Ethereum (ETH) at a Crossroads: Another Rejection or This Time It Will Be Different?"},"content":{"rendered":"
\n

The cryptocurrency market witnessed a solid rebound over the past 24 hours, with Ethereum (ETH) briefly rising to almost $2,400 before it was stopped after reports that Iran had hit a US Navy vessel.<\/p>\n

However, the bears intercepted the move, and the asset headed south in the last few hours, while some analysts suggest a further pullback could be on the way.<\/p>\n

What\u2019s Next?<\/h2>\n

As of this writing, ETH trades at around $2,350, posting a 1% daily increase. The renowned analyst Ali Martinez noted<\/a> that earlier today (May 4), the price reached the top of a certain channel at $2,375, describing it as a \u201cmajor area of resistance to watch.\u201d<\/p>\n

He reminded that on previous occasions, this level has been followed by a rejection, sending ETH back to the bottom of the formation for support.<\/p>\n

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\u201cFailure to clear this barrier could trigger a retracement to the channel\u2019s lower boundary, currently near $2,210,\u201d Martinez assumed.<\/p>\n<\/blockquote>\n

Nonetheless, he presented an optimistic scenario as well. In his view, if ETH gains the strength to print a daily close above $2,375, this could result in a 7% pump to the next structural high at $2,550.<\/p>\n

CRYPTOWZRD and CryptoMark also touched upon the matter. The former suggested<\/a> that a breakout beyond $2,400 could offer a \u201cbetter long location,\u201d outlining $2,270 as support.<\/p>\n

The latter claimed<\/a> that ETH has just finished coiling into a \u201cperfect Cup and Handle formation.\u201d They believe the price is \u201cjust a few points away\u201d from testing a breakout that could send the valuation straight to $2,850, or the highest since January this year.<\/p>\n

The Whales and More<\/h2>\n

Large investors have been quite active lately, reinforcing the possibility of further gains for ETH in the near future. As CryptoPotato<\/em> reported<\/a>, whales purchased 140,000 units (worth almost $330 million) in the span of just four days.<\/p>\n

Such accumulation is typically seen as a bullish factor because it reduces immediate selling pressure, reflects strong conviction among big players, and could encourage retail investors to hop on the bandwagon.<\/p>\n

The spot ETH ETFs are also worth observing. These products attracted<\/a> over $350 million in April, finally breaking the five-month negative streak. Moreover, May started with a massive inflow candle, and we have yet to see whether the institutional interest will remain high in the next four weeks.<\/p>\n

It is important to note that the current month has historically been a strong period for the second-largest cryptocurrency, with only three red finishes on record. However, two of those occurred during the bear markets of 2018 and 2022, putting ETH at a crossroads again.<\/p>\n

\"ETH<\/a>
ETH Monthly Returns, Source: CoinGlass<\/figcaption><\/figure>\n

The post Ethereum (ETH) at a Crossroads: Another Rejection or This Time It Will Be Different?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency market witnessed a solid rebound over the past 24 hours, with Ethereum (ETH) briefly rising to almost $2,400 before it was stopped after reports that Iran had hit a US Navy vessel. However, the bears intercepted the move, and the asset headed south in the last few hours, while some analysts suggest a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-89440","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/89440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=89440"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/89440\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=89440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=89440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=89440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}