The Ethereum price has shown a hopeful rebound following the sell-off, although ETH bulls will struggle above $4,300.
After recovering from a swing low of $3,838 in price, Ethereum has provided a positive outlook.
ETH bulls are looking for higher levels, but the token’s upward potential may be restricted around $4,300.
Slicing over $4,387, on the other hand, may reveal a 25% increase in Ethereum.
On December 11, the price of Ethereum swiftly rebounded from its swing low of $3,838, achieving a 5% rise above the psychological milestone of $4,000 for the first time. While ETH is now favoring bulls, the cryptocurrency may have difficulty reaching higher levels as significant resistance near $4,300 appears.
Ethereum’s pricing is still a little unsure.
On the 12-hour chart, Ethereum price has formed a symmetrical triangular formation, indicating market hesitation. As it sought to reverse the period of underperformance, ETH quickly bounced from the bottom border of the dominating technical pattern at $3,838.
While the swift rebound looks to be a hopeful move to the upside, indicating a reversal in momentum for the Ethereum price, ETH may face a difficult obstacle ahead that might stymie its advance.
