Ethereum Price Analysis: ETH Stopped at $3.2K, is Another Major Crash Coming?
Ethereum’s latest rally has stalled at the $3.2K resistance zone, the place heavy promoting stress triggered a transparent rejection.
The asset is now buying and selling inside a slender consolidation vary, and the following decisive breakout is more likely to dictate the next main transfer.
Ethereum Technical Analysis
By Shayan
The Daily Chart
Ethereum’s rebound from the $2.6K help zone prolonged right into a key provide space, the place a every day FVG converges with a long-standing downward trendline close to $3.2K.
This confluence attracted vital promoting curiosity, halting the advance and producing a pointy rejection. The pullback has additionally resulted within the formation of a every day decrease low, holding the broader construction tilted bearish.
With this shift, the potential for a deeper retracement has elevated, making the $2.6K help zone the first draw back goal.
For now, Ethereum stays range-bound, and a breakout from this tight construction will possible decide the following dominant development.
The 4-Hour Chart
On the 4-hour chart, Ethereum initially broke above the short-term descending trendline and pushed increased.
However, sturdy provide at the $3.2K area prompted a reversal, sending the value again towards a crucial help space composed of a bullish order block overlapping a previous breaker block.
This layered confluence will increase the probability of a response on this zone, making it a decisive degree within the brief time period.
As a consequence, the market continues to fluctuate throughout the broader $3K–$3.6K vary, suggesting that extra consolidation is possible earlier than a transparent course emerges.
Sentiment Analysis
By Shayan
The weekly liquidation heatmap reveals that the latest rejection was accompanied by a sweep of the liquidity pool, which sits slightly below the $3032 market low, capturing buy-side liquidity.
Such liquidity grabs usually precede a recent upward leg because the market seeks increased pockets of liquidity.
At current, the following main cluster rests across the $3.3K area, performing as a pure value magnet following the latest sweep. From a supply-demand standpoint, this positions Ethereum for a short-term upward transfer towards that zone earlier than any broader correction resumes.
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