You Won’t Believe What Happens When Ethereum Hits $3,400! 😱💰

by

Well, well, well, look who just strutted into the $3,400 nightclub-Mr. Ethereum himself! 🎉 But hold your horses, folks! This fancy price rally has hit a major resistance zone, where the technical party is so crowded that rejection might just be waiting at the door unless our buyers can grab that bouncer’s attention with some serious volume! 💪

  • ETH is giving the $3,400 high-time-frame resistance a good ol’ test! 🚪
  • Confluence includes a bearish order block (sounds scary, right?), VAH, and that mysterious 0.618 Fibonacci thingamajig!
  • If we get rejected here, the odds of a downward spiral increase-yikes! 😬

Ethereum’s latest price action is like an overzealous kid on a sugar rush, driving a strong rally into the coveted $3,400 hotspot. It’s now a pivotal point where the market must either break through like a champ or take a nosedive back to the safety of the macro range! Talk about pressure! 😅

Ethereum’s Price Technical Points-Dun Dun Dun!

  • Ethereum’s doing the cha-cha at the $3,400 high-time-frame resistance! 💃
  • This zone includes a bearish order block (cue the spooky music), value area high, and the famous 0.618 Fibonacci confluence!
  • If ETH doesn’t reclaim $3,400, we might be looking at a downward trend-a total buzzkill! 😒

Now this $3,400 resistance zone is about as important as a seatbelt in a rollercoaster! 🎢 It’s where sellers have previously defended their turf like overprotective parents. Expect some serious selling pressure if buyers try to get too close-no one likes a party crasher! 🥳

From a market profile perspective-let’s put on our glasses for this one-the value area high usually represents the upper limit of what’s accepted within a range. When prices start dancing up here but can’t keep the rhythm, they often tumble back toward the lower value. It’s like the market’s version of a late-night regret! 🍕

And speaking of risks, the bearish order block adds more drama than a soap opera! 📺 Order blocks are like those zones where big players enter the market, and they might just drop a heavy load of selling pressure if we revisit those regions. The stakes are higher than my Aunt Edna’s fruitcake during the holidays! 🎂

0.618 Fibonacci Confluence and Distribution Risk-Ooo La La!

The 0.618 Fibonacci retracement is like that wise old sage everyone listens to in a fairy tale! 🧙‍♂️ It’s a major decision point between continuing the fairytale or turning into a pumpkin at midnight. Ethereum hitting the $3,400 confluence raises the chance of a momentum slowdown-cue dramatic music! 🎶

This is where distribution becomes as real as my love for nachos on game day. If prices spike and buyers struggle to push higher, you might see a rejection wick pop up like a bad hair day, followed by a return to the prior range. 🥴

If Ethereum can’t reclaim $3,400 on a closing basis, that rally could turn out to be a false alarm-yikes! 🚨

The Macro Range: A Never-Ending Story

Even though Ethereum’s recent moves have been as impulsive as a toddler with a cookie, the broader macro context still suggests it’s playing within a range-like a cat chasing its tail! 🐱 In these conditions, prices bob up and down between resistance and support, like a bad dance partner-until a decisive breakout occurs!

If Ethereum can break free from its $3,400 chains, it’ll signal a shift in the macro framework and prove buyers are strong enough to strut their stuff at higher prices. 💃💰

But without that acceptance, expect a retreat back to the lower boundary of the range, seeking support like a lost puppy! 🐶

What Would Confirm a Breakout? Drumroll Please! 🥁

For Ethereum to bust through that $3,400 barrier and keep the party going, we need two key ingredients: volume and acceptance! 🍹

A breakout without volume is like a party with no music-totally vulnerable! 🎵 If it fails to hold, expect a quick move above resistance before getting tossed back into the range like last week’s leftovers. On the other hand, a true breakout is like fireworks on the Fourth of July-impulsive, full of expanding volume, and followed by multiple higher-time-frame closes. Boom! 💥

If Ethereum can reclaim $3,400 and hold on for dear life with strong participation, expect the probability of continuing toward higher resistance zones to soar like a kite on a windy day! 🪁

What to Anticipate in the Coming Price Action?

Ethereum is now at a crossroads! The $3,400 resistance region is sizzling with significant technical confluence-hold onto your hats, folks! 🎩 The market is likely to react strongly to this area. A breakout requires some serious volume expansion and sustained acceptance above the resistance level!

Without that confirmation, the risk of rejection looms larger than my Uncle Joe’s collection of Hawaiian shirts! 🌺 And a pullback toward the value area low? More likely than not!

Read More

2026-01-15 16:45