Analysts say patients will be rewarded as Ethereum prices retest four years of resistance

Despite the similarity of Bitcoin’s prices to several new, ever-high bull markets, Ethereum prices continue to clash with great resistance in a campaign for new highs. The latest is pushing back resistance at $3,800. This is perfectly in line with the four-year resistance line, which keeps Altcoin from hitting its new all-time highs. But this could be a breakout chart as Ethereum prepares for another retest.

Ethereum is on the verge of breakout

Crypto analyst MMCRYPTO highlighted the potential breakout for Ethereum Price Chart after AltCoin returned to the four-year resistance trend line. This trendline began in 2021 when Ethereum prices always hit a high of $4,800. Since then, it has become a resistant trend line to bring together new highs at ETH prices.

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Over the past four years, this resistance trend line has been held firmly, lowering the price of Ethereum from the $4,000 level. This has hampered the rally to $4,800, further distant from the expected $5,000 target push. But now there may be another opportunity for Ethereum to turn the tide and completely break this resistance.

Currently, ETH prices are still below $4,000, suggesting that the bears still hold the resistance line. This price trading below resistance has led to Mmcrypto noting that ETH has suffered a decline in performance for four years. With this in mind, many investors have either lost money or haven’t seen profits from their investments.

The main target today is the breakdown of resistance. Crypto analysts explain that when this happens, Ethereum prices can be seen here as a monumental pump. He explains that the pump will be promoted by investors who have not yet realized the benefits of ETH holdings over the past four years.

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In the hopes of breaking the resistance trend line, analysts urge investors to be patient. He points out that once the pump starts, a patient person will become the one who will benefit from this ETH price action.

Plus, it’s not just the only Altcoin that benefits from the pump. Previous Altcoin season has been driven by Ethereum price movements, and if ETH can hit an all-time high, the Altcoin market is expected to follow. “If an Ethereum pump occurs, it will have a wide impact on the entire crypto space and take many altcoins! Get ready and prepare,” the analyst said at the end.

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