In recent days, Ethereum continues to draw attention in the crypto market, showing significant changes in liquidity and price levels.
Liquidity Clearance at Lower Levels
Ethereum is currently trading around $4,230, with a 24-hour trading volume of over $40.67 billion. The current price of the token declined by 0.12% in the past 24 hours and by 8% over the past week. Analyst Crypto Rover reported that liquidity at the lower level was cleared when the price dipped below $4,200.
"*$ETH – Ethereum. Downside liquidity swept, topside liquidity remains. What’s next is obvious!*" he commented.
CME Gap Filled and Support Level Established
Changes were noted in the futures market by analyst Max Crypto, who pointed out that the Ethereum gap on the Chicago Mercantile Exchange (CME) in the $4,100–$4,200 zone has now been filled. "*$ETH CME GAP HAS BEEN NOW FILLED. RUN IT BACK TURBO*,” he noted, implying that one downside objective has now been completed. This filled level may serve as a short-term support.
Technical Indicators and Market Outlook
On the daily chart, Ethereum has been consolidating after its pullback from above $4,500. The token bounced from the 20-day simple moving average (SMA) near $4,095, which has acted as dynamic support during the uptrend. The 50-day SMA sits lower at $3,590. Momentum indicators show a cooling phase, with the Relative Strength Index (RSI) at 55.83, indicating that, despite cooling, Ethereum remains in an uptrend.
Ethereum is currently positioned between cleared downside liquidity and untouched topside liquidity. Support above $4,200 may pave the way for further gains towards the $4,600–$4,800 range.
