3 Reasons Ethereum Price Stalls Below $4,000 — And Why The Real Test Lies Higher

Ethereum's price is struggling below $4,000 due to three main factors: whale addresses have been selling off holdings, reducing supply by about 140,000 ETH since October 20, and the Holder Accumulation Ratio (HAR) has flattened, indicating slowing accumulation. Secondly, on-chain analysis shows a heavy resistance band between $3,955 and $4,015, where significant supply exists, making a sustained break difficult. A larger supply wall is noted between $4,270 and $4,314. Despite this short-term hesitation, the overall technical setup remains bullish, respecting an ascending trendline since August. The real test for a breakout lies above $4,340; a daily close above this level, which aligns with the 0.786 Fibonacci retracement, could pave the way toward $4,960. Furthermore, a hidden bullish divergence on the RSI suggests potential for a significant rally if the key resistance is overcome.

(Source：BeInCrypto)