Ethereum Struggles Consolidates Around $4,000 Post-Dencun Upgrade

 Ethereum has been navigating a challenging terrain in recent trading sessions. Following its upward surge to a multi-year high above the $4,080 mark, Ethereum encountered a corrective movement, falling below the psychological threshold of $4,000. Currently hovering in a range around $3,963, Ethereum’s price is facing resistance at the $4,000 level.

Ethereum’s price reached a 2-year high of $4,083 on March 12. The momentum was propelled by a combination of factors, including the anticipation surrounding the Dencun upgrade and the broader cryptocurrency market’s bullish sentiment. However, this bullish rally was short-lived, as profit-taking and market volatility led to a correction, with ETH dipping below the psychologically significant $4,000 level.