Ethereum’s latest attempt to push beyond the all-time high of $4.8,000 has been hard-fledged. Despite this set-off, this asset is supported at multiple key levels and can expand as the market consolidates.
Technical Analysis
Shayan Market
Daily Charts
Ethereum Buyers recently tested the 4.8K ATH, but was filled with strong sales pressure that could likely be due to distribution when profits are made. This refusal caused a 9% decline, bringing prices back to the corrective stage.
Currently, ETH appears to be consolidated within the $4.2,000 to $4.8,000 range and now serves as a key decision zone. A breakout above the upper boundary could target psychological 5K milestones and promote a strong continuity rally. Conversely, continuous sideways will strengthen the scope as the battlefield for the next major movement.
4-hour chart
In the lower time frame, rejection at $4.8K Swing High is more pronounced. After maintaining a higher and higher low sequence, ETH faced resistance and reversed low.
The fix looks healthy for now, with the $4.2,000 level serving as the main support zone. The distinct bearish RSI differences on price further support the short-term pullback narrative. If $4.2,000 is held, ETH could remain in the range between $4.2K and $4.8K before attempting another breakout. However, a breakdown below $4.2K could expose the midline of the rising price channel as next support.
Ultimately, a decisive breakout of over $4.8K confirms bullish continuity and paves the way for 5K and beyond.
Emotional analysis
Shayan Market
Ethereum has recently demonstrated enhanced volatility as liquidity-driven movements shape short-term price action. The liquidation heatmap provides valuable insight into where leveraged locations are clustered, highlighting potential areas of price appeal.
Over the past week, ETH has surged towards the $4,800 region, but faced intense sales pressure, resulting in sharp rejection. Following this, assets are now consolidated back towards the $4,400-4,500 zone.
Currently, liquidation level clusters are above $4,800 and below $4,200, suggesting an environment surrounded by a close range. This dynamic means that ETH is likely to continue to be drawn to these fluidity pools, with both sides acting as price action magnets.
Breakouts that cross either threshold are expected to trigger a liquidation cascade and promote strong directional movements. However, traders should be careful of false breakouts, as liquidity hunts are likely to last until a critical trend structure emerges.
