Ethereum Faces Resistance: Need for Higher Adoption to Surpass $4,000
Ethereum is navigating choppy waters as it has remained on a downward trajectory for nearly six weeks. Having fallen below $4,000 for the first time on December 16, 2024, the pressure mounts for ETH to reclaim this crucial level. Analysts assert that a significant increase in blockchain activity and adoption is necessary for Ethereum to break through the $3,400 resistance and aim for $4,000. Without this crucial momentum, ETH could continue to struggle in an increasingly competitive market. Investors should keep a close watch on adoption metrics as they monitor Ethereum’s potential movement.