Ethereum is undergoing a correction after an unsuccessful attempt to exceed its all-time high at $4.8K. This article analyzes current support levels and possible forecasts for ETH.
Technical Analysis
Recent attempts by Ethereum buyers to reach the $4.8K all-time high faced strong selling pressure, likely due to profit-taking. This reaction triggered a 9% decline, pulling the price back into a corrective phase.
Currently, ETH appears to be consolidating within the $4.2K–$4.8K range, which now serves as a critical decision zone. A breakout above the upper boundary would likely fuel a strong continuation rally targeting the psychological $5K milestone. Conversely, continued sideways action would reinforce the range as the battleground for the next major move.
Sentiment Analysis
Ethereum has recently displayed heightened volatility, with liquidity-driven moves shaping short-term price action. The liquidation heatmap provides valuable insight into where leveraged positions are clustered, highlighting potential areas of price attraction.
Over the past week, ETH surged toward the $4,800 region but faced intense selling pressure, resulting in a sharp rejection. Following this, the asset retraced toward the $4,400–$4,500 zone, where it is currently consolidating.
Clusters of liquidation levels are now visible above $4,800 and below $4,200, suggesting a range-bound environment in the near term. This dynamic implies that ETH is likely to continue gravitating toward these liquidity pools, with both sides serving as magnets for price action.
Conclusion
In summary, Ethereum is facing correction and continues to hold support at key levels. The anticipated movement of the asset will depend on the response to the aforementioned levels.
In conclusion, Ethereum is facing a correction and maintains support at key levels. The expected movement of the asset will depend on the reaction to the stated levels.
