Key Insights
- Ethereum clears $4,200 downside liquidity, leaving untested topside liquidity between $4,600 and $4,800.
- CME gap in $4,100–$4,200 zone filled, creating a pivot as traders await Ethereum’s next move.
- RSI cools to 55.83, yet Ethereum trend stays intact with support at $4,095 and $3,590.
Ethereum (ETH) is trading near $4,230, with a 24-hour trading volume of over $40.67 billion. The token has dipped 0.12% in the past 24 hours and is down 8% over the past week. Despite recent weakness, chart patterns suggest the market may be setting up for the next move.
Analyst Crypto Rover shared an ETH/USDT liquidation heatmap showing that downside liquidity was cleared as price dipped below $4,200.
“$ETH – Ethereum. Downside liquidity swept, topside liquidity remains. What’s next is obvious!” he commented.
The analysis suggests that with stop-losses and leveraged long positions already flushed out, Ethereum could now turn higher to capture liquidity concentrated in the $4,600–$4,800 range.
CME Gap Filled, Market Finds Pivot
Another technical development came from the futures market. Analyst Max Crypto pointed out that Ethereum futures on the Chicago Mercantile Exchange (CME) have completed a gap in the $4,100–$4,200 zone. “$ETH CME GAP HAS BEEN NOW FILLED. RUN IT BACK TURBO,” he noted, implying that one downside objective has now been completed.
CME gaps often get revisited by price action. With this level filled, the zone may act as a short-term pivot. ETH futures are currently trading near $4,189, suggesting the market is holding steady after retracing back into this critical range. Traders are now watching whether ETH can use this level as support for a new leg upward.
https://twitterx.com/MaxCryptoxx/status/1958053521175245296
Technical Indicators and Trend Structure
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, a level that has acted as dynamic support during the uptrend. The 50-day SMA sits lower at $3,590, marking the next level to watch if selling pressure resumes.
Source: TradingView
Momentum indicators reflect a cooling phase. The Relative Strength Index (RSI) stands at 55.83, down from near 70 earlier this month. While momentum has eased, RSI above 50 still reflects a bias toward buyers. This setup indicates Ethereum remains in an uptrend, though short-term momentum has slowed.
Market Outlook
Ethereum now trades between cleared downside liquidity and untouched topside liquidity. If price holds above $4,200, the next upside focus may be the $4,600–$4,800 band, where leveraged short positions are concentrated. A drop below $4,095 could shift attention to the $3,590 support.
With key liquidity levels defined, traders are closely monitoring whether Ethereum will consolidate further or make a push toward higher targets.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/eth-clears-downside-liquidity/
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