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Summarize with AI
Summarize with AI
Ethereum remains in a corrective and compressive phase, with price action increasingly tightening between descending resistance and a well-defined demand zone. Both the higher and lower timeframes suggest that ETH is approaching a critical decision point, where directional expansion is likely to follow the current compression.
Ethereum Price Analysis: The Daily Chart
On the daily timeframe, Ethereum continues to trade below a dominant descending trendline that has capped its price since the previous major high. Multiple rejection points along this trendline confirm its technical significance, reinforcing it as a primary dynamic resistance. The asset is also trading below both the 100-day and 200-day moving averages, with the 100-day MA of $3.1K already sloping downward and exerting downward pressure on the price action, while the 200-day MA sits higher and continues to act as a broader trend filter.
The overlapping resistance zone formed by the descending trendline and the moving averages has repeatedly absorbed bullish attempts, signalling persistent sell-side pressure at higher levels. At the same time, downside momentum has slowed as the price approaches a clearly defined daily demand zone around the lower boundary of the structure at the $2.7K price range. This area has previously triggered strong reactions, suggesting that buyers remain active and willing to defend these levels.
The overall daily structure reflects contraction rather than trend continuation. As the price oscillates between descending resistance and rising demand, the market is compressing into a narrowing range, increasing the probability of a larger directional move once this equilibrium is resolved.
ETH/USDT 4-Hour Chart
On the 4-hour timeframe, the compression becomes even more evident. The asset is currently looping between the descending resistance line and the ascending support line, forming a clear wedge structure. The most recent price action shows Ethereum bouncing from the lower boundary of the wedge at $2.8K threshold, confirming demand responsiveness and short-term buyer interest at discounted levels.
However, despite the bounce, ETH remains capped below the internal resistance zone of $3K and has not yet achieved a clean breakout above the wedge’s upper boundary. This lack of follow-through suggests that bullish momentum is still fragile and largely reactive rather than impulsive. Until ETH can reclaim and hold above the descending resistance with strong acceptance, upside moves are likely to remain corrective.
The current structure favors expansion, but direction remains conditional. A decisive breakout above the wedge would shift short-term market control back to buyers, while rejection near resistance could open the door for another rotation toward the demand zone.
Sentiment Analysis
The liquidation heatmap highlights dense liquidity clusters resting above the current price at the $3.1K region, with particularly heavy concentrations overhead. This suggests that a move into resistance could trigger cascading liquidations on the short side, while downside sweeps into lower liquidity pools may be used to rebalance positioning before any larger directional push.
The current distribution of liquidity aligns with the observed price compression, reinforcing the idea that the market is in a positioning phase rather than a trending one. As liquidity continues to build within this range, the eventual breakout is likely to be sharp, with leverage-driven volatility accelerating the move once key levels are breached.
Overall, Ethereum appears to be in a late-stage compression phase across price structure and derivatives positioning. Directional clarity will depend on how ETH reacts to the descending resistance and whether liquidity is taken above or below the current range.
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Source: https://cryptopotato.com/ethereum-price-prediction-is-eth-doomed-after-another-rejection-at-3k/
