Ethereum Price Analysis: Has ETH’s Momentum Faded Following its ATH?

Ethereum has extended its rally to a new all-time high of $4,960, but momentum has started to ￰0￱ divergences on RSI suggest that buyers may be losing strength, raising the risk of a corrective phase unless ETH can reclaim its highs with ￰1￱ Analysis By Shayan The Daily Chart On the daily chart, ETH broke slightly above its previous peak, recording a marginally higher ATH. However, the RSI failed to make a new high, forming a bearish divergence that reflects waning ￰2￱ this, the asset pulled back toward the ascending channel’s midline, now finding support in the $4,400–$4,450 ￰3￱ this level holds, ETH may consolidate before another retest of the $4.9K zone.

Conversely, a breakdown below $4,400 would expose the $4K support range, which aligns with a prior swing high and marks the next major demand area. Overall, Ethereum is trading within a tight and dynamic range, and a decisive breakout in either direction is likely to trigger an impulsive ￰4￱ 4-Hour Chart On the lower timeframe, ETH recently performed a liquidity sweep above $4.8K, only to reverse ￰5￱ rejection coincided with distribution in the Bitcoin market, confirming short-term exhaustion across ￰6￱ has since retraced to the $4.4K Fibonacci cluster (0.618–0.702 retracement), where it currently hovers above trendline ￰7￱ confluence zone is a critical ￰8￱ holding above $4.4K could fuel a retest of the $4.9K highs, losing this level would likely open the door for a deeper correction toward $4K.

Onchain Analysis By ShayanM Ethereum has experienced extreme volatility in August, marked by sharp rallies followed by equally aggressive ￰9￱ liquidation heatmap sheds light on where leveraged long and short positions are clustered, highlighting the levels that act as liquidity magnets for the price ￰10￱ its surge toward $4.9K, ETH triggered a dense cluster of short liquidations, wiping out aggressive sellers. However, the sharp rejection that followed signaled exhaustion at those highs, trapping late buyers in the ￰11￱ present, the heatmap reveals two critical liquidity zones: Upside: Above $4.9K, where untested short liquidations remain stacked, providing a magnet if bullish momentum regains strength.

Downside: Below $4K, where dense clusters of long liquidations could attract price action if the $4.2K support fails to hold. Currently, ETH is consolidating within a liquidity-driven range between $4.2K and $4.9K. With significant liquidity pools positioned on both sides, the market remains highly vulnerable to sharp, leverage-fueled moves, as liquidity hunts continue to dominate short-term dynamics.