Ethereum at Crossroads: Below $4,060, What's Next?

Ethereum at Crossroads: Below $4,060, What's Next?

Ethereum (ETH) currently finds itself in a precarious position, grappling with a critical price juncture. After a notable bounce from the significant $3,800 liquidity level, the digital asset has stalled beneath the crucial $4,060 resistance. This pause has ignited a debate among traders and analysts: is this merely a temporary consolidation before a strong recovery, often termed a "fakeout," or is it a precursor to a more substantial downward movement, potentially towards the $3,600 support? The Battle for $4,060: A Key Determinant The recent price action of Ethereum has been under intense scrutiny. Crypto analyst Ted, known for his incisive market observations, recently highlighted the importance of the $3,800 liquidity level. As he had forecasted, Ethereum successfully tapped into this region, which acted as a robust buying zone, effectively cushioning its short-term decline and triggering a much-needed upward correction. This response from buyers at $3,800 underscored the …