Redman 2024 — Ethereum Technical Analysis: Is $4,000 Within Reach?
Source: Redman, J. (2024, December 14). Ethereum Technical Analysis: Is $4,000 Within Reach or a Mirage? Bitcoin.com News. https://news.bitcoin.com/ethereum-technical-analysis-is-4000-within-reach-or-a-mirage/
Published: 14 December 2024 | Author: Jamie Redman | Platform: Bitcoin.com News
Market Snapshot (14 December 2024)
- ETH market cap: ~$468 billion
- Intraday range: 3,957.89
- Current level: ~$3,886 (consolidating)
- All-time high: $4,878.2 (November 10, 2021)
- Drop from ATH: 20.2%
Multi-Timeframe Analysis
Daily Chart
- Uptrend began at 4,096.6
- Key support: 3,700
- $4,000 = significant psychological resistance
- Smaller bullish candles near $3,800 show resilience; bearish volume decreasing
4-Hour Chart
- Consolidating 3,950; bounced from $3,467.5 low
- Declining volume on upward moves → weakening buying pressure
- $4,000 resistance tested repeatedly without success
1-Hour Chart
- Potential higher low at 3,950)
- Frequent volume spikes on bearish candles near resistance
Oscillators and Indicators
| Indicator | Reading | Signal |
|---|---|---|
| RSI | 61.2 | Neutral |
| Stochastic | 66.3 | Neutral |
| MACD | 178.1 | Sell |
| Awesome Oscillator | 301.9 | Buy |
| Momentum | 42.7 | Bearish |
Moving averages (EMA/SMA 10–200 periods) predominantly bullish: 10-EMA at 2,994.
Bull / Bear Verdict
Bull: Strong MA buy signals + defended 4,000 could push toward $4,200+.
Bear: Declining volume on rallies + persistent 3,800 support could pull back to 3,700.
Key Concepts Referenced
Context
This article provides a snapshot of ETH price dynamics in December 2024, near the tail end of that year’s bull run. Compare with newsbtc-2026-ethereum-whale-signal which covers April 2026 when ETH had retreated significantly to ~$2,200 — validating the bear scenario that materialised over the following 16 months.