Ethereum Price analysis: Has the Bullish Momentum of ETH disappeared?

The last attempt by Ethereum to push $ 4.8k beyond its peak is staggering, which leads to a painful correction. Despite this setback, it remains actively supported by several key levels, with increased volatility probably as the market consolidates.

Technical analysis

By Shayanmarkets

The daily graph

Ethereum buyers recently tested the ATH of $ 4.8K, but were received a strong sales pressure, probably as a result of taking profit and distribution. This rejection led to a decrease of 9% and withdrew the price in a corrective phase.

At the moment ETH seems to consolidate within the range of $ 4.2k – $ 4.8k, which now serves as a critical decision zone. An outbreak above the upper limit would probably feed a strong continuation rally, aimed at the psychological milestone of $ 5K. Conversely, constant lateral action would strengthen the reach as the battlefield for the next major movement.

The 4-hour graph

In the lower period of time, the rejection on the Swing High of $ 4.8k is pronounced more. After maintaining a series of higher highlights and higher lows, ETH faced resistance and turned lower.

This correction seems to be healthy for the time being, with the $ 4.2k level that acts as the primary support zone. A clear Bearish RSI divigence at price also supports the short-term story. If $ 4.2k applies, ETH will probably remain reached between $ 4.2k and $ 4.8k before trying another outbreak. However, a breakdown under $ 4.2k could uncover the center line of the rising price channel as the next support.

Ultimately, a decisive outbreak above $ 4.8k Bullish would confirm continuation and open the path to $ 5k and then.

Sentiment analysis

By Shayanmarkets

Ethereum has recently shown increased volatility, with liquidity -driven movements that form the price action in the short term. The liquidation heat offers valuable insight into where lifting tree positions are clustered, which emphasizes potential areas of price retirement.

In the past week, ETH rose to the $ 4,800 region, but was confronted with intense sales pressure, which resulted in a sharp rejection. After this it actively went back in the $ 4,400 – $ 4,500 zone, where it currently consolidates.

Liquidation levels clusters are now visible above $ 4,800 and lower than $ 4,200, which suggests a range -bound environment in the short term. This dynamic means that ETH will probably remain attracted to these liquidity pools, where both parties serve as magnets for price action.

It is expected that an outbreak beyond both dremers will activate a liquidation cascade, which means a strong directional movement. However, traders must remain careful with false outbreak, because the liquidity yachts will probably last until a decisive trend structure arises.