Ethereum Price Eyes Crucial Resistance Zone Amid Fractal Tensions
Ethereum's price has held steady near $1,919 as analysts watch for potential resistance at $4,000. The long-term fractal target is a wider range of $10,000 to $16,000.
Crypto analyst Crypto Patel notes that Ethereum still follows a four-year expansion structure similar to previous Bitcoin halvings. This setup places $4,000 as major resistance and suggests a potential breakout above this level could lead to the wider fractal target.
The Elliott Wave framework also supports the bullish case, with Wave 4 appearing complete after ETH defended macro support. However, higher highs and higher lows are needed to keep the structure intact.
A separate pressure point comes from whale activity, as a large wallet sold 7,323 ETH for $13.96 million after holding and staking the asset for over three years. This sale resulted in a loss of about $6 million, with total losses exceeding $19 million.