Strong bullish case for ETH above $ 4,220 (Ethereum price -analysis)

Ethereum is currently stuck between strong support of higher time and severe resistance left due to the recent breakdown.

Bulls must defend the $ 3.9k -based to keep the wider upward trend intact, while recovering the $ 4.2k resistance band would offer a confirmation for a continuation of the previous highlights.

By Shayan

The daily graph

In the daily period of time, ETH has withdrawn from its recent peak in a critical support conflict, including the 100-day progressive average and the lower limit of the rising channel around $ 3.8k. Despite the recent sale, the cryptocurrency remains above the 200-day advancing average, which continues to serve as a bullish anchor in the longer term.

The rejection of the ordering block near $ 4,600- $ 4,700 has made the market vulnerable for short-term pressure. However, as long as the price applies more than $ 3.8k – $ 3.9k, there will be room for recovery. A persistent daily conclusion of the ordering block would probably cause renewed bullish momentum.

The 4-hour graph

In the 4 hours, Ethereum fell sharply in the demand area of ​​$ 3,800-$ 3,900, which overlaps with the lower limit of the canal, and quickly attracted buyers. This bounce has raised the price to the $ 4,200 zone, where resistance is now being tested in the short term.

Above this level, the range of $ 4,300 – $ 4,400 stands out as the following critical resistance, in line with the decision point (DP) and important Fibonacci racements.

An absence to reclaim the momentum above $ 4,200 can surround ETH in further consolidation, or even a retest of the $ 3,800 demand block. Conversely, a clean outbreak would clear the road for ETH to visit higher resistance zones, eventually aimed at the order block of $ 4,600 – $ 4,700.

By Shayan

The liquidation Heatmap emphasizes that the recent decline of Ethereum caused a long squeeze, so that a dense cluster of over -surrendered positions was wiped out just below $ 3,900 before he returns.

EHH is currently in favor of the resistance of $ 4,200, where another dense liquidity cluster has formed. This zone represents both an obstacle and a magnet for price action. If Ethereum successfully breaks above this area and knew the liquidity overhead, the next large concentration is above $ 4,700 Swing Highs.

This makes a liquidity of those highlights more and more likely, because the market tends to be attracted to such Polish. In short, while buyers first have to absorb the offer to $ 4,200, the greater liquidity that rests above $ 4,700 suggests, the path of the least resistance of Ethereum remains tilted up.