Ethereum Price Analysis: What’s Next for ETH After Sharp Rejection at $4.5K?

Ethereum has seen a sharp rejection from its local highs, slipping back into a critical support ￰0￱ netflows showing persistent outflows and momentum cooling, the market is now testing whether bulls can defend key levels or if deeper retracements are ￰1￱ Analysis By Shayan The Daily Chart On the daily chart, ETH failed to hold above $4,400, breaking below the small ascending channel formed ￰2￱ breakdown has shifted momentum, with price now hovering around $4,200. The RSI is also sitting around 40, reflecting a loss of bullish strength but not yet an extreme oversold ￰3￱ first major support is found near $4,000, followed by the $3,800 area, which lines up with the 100-day moving average and the lower boundary of the larger ￰4￱ buyers defend this level, ETH could form a higher low structure, keeping the broader uptrend ￰5￱ now, ETH’s mid-term trend remains bullish as long as $3,700 holds, but the momentum shift suggests more downside probing before strength ￰6￱ 4-Hour Chart The 4H chart paints a clearer picture of recent ￰7￱ broke down from its $4,400–$4,800 consolidation range and quickly dropped toward $4,100.

Momentum is now heavily tilted to the downside, with RSI near 30, showing short-term oversold ￰8￱ this could spark a relief bounce, the breakdown has shifted the local trend bearish until $4,400 is ￰9￱ next strong liquidity cluster sits around $3,800, which aligns with both horizontal demand and the ascending ￰10￱ zone is likely where buyers will attempt to step in ￰11￱ ETH can hold and rebound from this area, the first upside target would be $4,200, followed by a retest of the key $4,400 ￰12￱ the other hand, failing to hold above $3,800 could accelerate selling pressure, dragging the market into an overall bearish ￰13￱ Analysis Exchange Netflows Exchange netflows continue to show large negative spikes, indicating consistent ETH outflows from ￰14￱ suggests investors are moving coins into self-custody or staking, which reduces sell-side supply and is generally bullish over the medium to long term.

However, in the short term, the market is more influenced by technical weakness and profit-taking at recent ￰15￱ accumulation continues during this dip, it could set the stage for a strong recovery later, but for now, market sentiment leans toward testing lower support levels before a new bullish leg begins.