Ethereum remains in the corrective phase after failing to convincingly break beyond the all-time high of nearly $4.9k. Prices fell below important support, raising questions about the short-term momentum.
Future sessions may determine whether ETH maintains a broader bullish trajectory or enters a deeper correction.
ETH Price: Technical Analysis
By Shayan
Daily Charts
On the daily charts, ETH continues to trade within rising channels, but the momentum has clearly waned following rejection at the channel’s upper limit. The assets have now been pulled back to mid-sized support, around $4.2k.
The RSI has decreased to about 52, reflecting the growth of cooled bulls and equilibrium between buyers and sellers. The decisive break, below $4.2,000, is likely to expose the $3.8k region, overlapping with sell-side liquidity pockets and previous levels of integration.
Conversely, if the buyer holds this level, the ETH can be integrated before installing another attempt to the $4.8K resistance zone, keeping the wider bullish structure intact.
4-hour chart
In the 4-hour time frame, ETH is below the steep, ascending trendline, but the wider channel midline near $4.2K continues to provide important support. This has put the market in its integrated range surrounded by $4.2,000 in support and $4.8k in resistance.
The $4.2K demand zone is a key battlefield. The breakdown here could see changes in the market structure and accelerate movement towards the $3.8,000 area. However, if buyers defend this support and collect a high swing of $4.6k, momentum could quickly turn back, with liquidity targets below $4.8,000.
On-Chain Analysis
By Shayan
Over the past week, Ethereum’s sharp rejection from $4.9,000 has caused a long cascade of liquidation, lowering prices to the $4.2,000 range. The liquidation heatmap provides insight into the level of price attraction that is most likely to attract in the short term, as leveraged locations are clustered.
HEATMAP now shows a dense liquidity cluster between 4.8k and $5,000, where aggressive short positions were previously trapped. This remains an important upward target, suggesting that bullish pushes aim to wipe out the remaining short liquidation in this zone.
On the downside, a large number of long settlements have accumulated within the $3.8,000 to $4.2,000 range, tailored to the main technical support area. Once the seller regains control, these levels act as a magnet on the downside, accelerating further modifications.
Until one side is cleared decisively, Ethereum could remain in a shooting, fluid, driven environment. Breakouts above $4.6K could trigger a run to a liquidity pool of $4.8K, while breakdowns below $4.2K could open a path towards the 3.8K zone.
