Daily Chart Overview
Ethereum’s recent price surge has hit a roadblock at the $3.2K mark, sparking concerns about a potential major crash. As the cryptocurrency hovers within a tight trading range, experts analyze the next possible moves.
The upward momentum was halted at the $3.2K resistance level, where significant selling pressure caused a noticeable pullback. After bouncing back from the $2.6K support, Ethereum encountered a supply zone near $3.2K, marked by a daily fair‑value gap and a downward trendline. Intense selling activity in this area stopped the price rise and triggered a sharp decline, creating a daily lower low and maintaining a bearish outlook. The $2.6K support now appears as the primary target for any further downside. Ethereum remains trapped in a narrow range, and any breakout will likely dictate the next major price direction.
4‑Hour Chart Analysis
On the 4‑hour chart, Ethereum briefly breached a short‑term descending trendline before hitting strong resistance around $3.2K, prompting a reversal. The price is now moving toward a crucial support area characterized by a bullish order block and a previous breaker block. This confluence raises the probability of a reaction at this level, making it a key point for short‑term movements. Consequently, Ethereum continues to trade within the broader $3K‑$3.6K range, suggesting further consolidation before a clear trend emerges.
Weekly Liquidity Heatmap Insights
According to the weekly liquidation heatmap, the recent rejection coincided with a liquidity‑pool sweep just below the $3,032 market low, capturing buy‑side liquidity. Such liquidity grabs often signal a potential upward move as the market seeks higher liquidity pockets. The next significant liquidity cluster lies around the $3.3K region, which could act as a price magnet following the recent sweep. From a supply‑demand perspective, this hints at a short‑term upward move toward $3.3K before any larger correction resumes.
Overall Outlook
While the short‑term outlook suggests a possible upward bounce, the broader market structure remains bearish. Investors should conduct their own research and consider market risks before making any investment decisions.
