Ethereum’s recent rally remains a correction for now, with the price still trading below key supply zones after stabilizing near the lower support area. Further consolidation is expected next week.
Ethereum Price Analysis: Daily Chart
In the daily time frame, $ETH After reacting from the $1.5,000 support zone, it has consolidated around $1.67,000. The broader structure remains bearish as the asset is still below the downtrend line and both major moving averages.
The closest resistance lies around $1.85,000 to $1.9,000, followed by a larger supply zone between $2,000 and $2.15,000. A recovery into this area could face strong selling pressure, especially as it overlaps with the downtrend line. only for $ETH If this region remains below, the market structure favors consolidation or another rejection.
On the downside, the $1.5,000 zone remains an important support. If lost, it may be exposed $ETH Toward a deeper downward trend.
$ETH/USDT 4 hour chart
The 4-hour chart shows: $ETH It is looking to build some short-term footing after its recent foray into $1.5K territory. The asset is currently stable around $1.67,000, with a prominent Fibonacci retracement level highlighting a potential recovery target.
The first major area of appreciation is around $1.83,000, followed by $1.9,000 and $1.96,000. Stronger rebound could push $ETH The previous breakdown area and downtrend line could act as a major barrier towards the $2,000 to $2.15,000 resistance zone.
However, unless prices forcefully regain these levels, the current move will look more like a correctional consolidation than a confirmed bullish reversal.
sentiment analysis
Binance $ETH The liquidation heatmap shows a significant concentration of short-term liquidations above the current market price. The largest liquidity cluster is located around $1.75,000 to $1.8,000, with additional pockets extending into the $1.9,000 region and above $2,000.
With the price currently trading around $1.67,000, these indirect liquidity pools could act as magnetic targets in the short term. A move into the $1.75,000 to $1.8,000 zone could trigger a wave of short-term liquidations and accelerate momentum towards the $1.83,000 Fibonacci level.
At the same time, we also see a large pocket of liquidity around the $1.55,000 to $1.6,000 area. if $ETH Losing the current holding range could cause the market to revisit these low levels before attempting a further recovery.
Overall, the heatmap suggests that liquidity is currently biased slightly to the upside, favoring a possible short squeeze towards $1.75K to $1.8K before the market determines whether a larger recovery towards the $1.9K to $2K resistance area is possible.
