Ethereum Price Analysis: Another Rejection Threatens ETH’s Bull Run

Ethereum continues to trade sideways, with volatility subdued as price action remains compressed between major support and resistance ￰0￱ market is approaching a sensitive juncture, where either a recovery could unfold or further weakness may ￰1￱ Analysis By Shayan The Daily Chart On the daily timeframe, ETH remains within its long-standing ascending ￰2￱ pulling back from the upper boundary near $4.9K, the price is now consolidating around the mid-range ￰3￱ long as Ethereum holds above the dotted trendline and the $4.2K–$4.3K support region, the broader bullish channel structure remains ￰4￱ this area, however, would expose the $3.8K support zone, where deeper demand ￰5￱ the upside, bulls must regain momentum and drive price back toward the channel’s upper boundary to reassert control and target fresh ￰6￱ 4-Hour Chart The 4-hour chart makes the compression more ￰7￱ the sharp rejection near $4.9K, Ethereum has been trading within a descending channel (marked in yellow), while repeatedly finding demand around the $4.2K support ￰8￱ asset is currently testing the upper boundary of this descending channel.

A confirmed breakout would likely open the path toward $4.6K–$4.7K, while another rejection would keep ETH locked in the short-term range, leaving the market vulnerable to a retest of lower supports around $3.8K. Onchain Analysis By Shayan The 2-week ETH/USDT liquidation heatmap highlights a market caught in compression, with dense liquidity clusters forming on both sides of the current ￰9￱ balanced yet fragile setup underscores the risk of a liquidity-driven breakout in either ￰10￱ the upside, a significant band of short liquidations sits above $4,500, extending into the $4,500–$4,600 zone. A clean break through resistance here could ignite a wave of forced short covers, fueling a sharp rally ￰11￱ the downside, equally heavy concentrations of long liquidations are visible around $4,200 and lower toward $4,000.

A failure to hold the $4,200 base could trigger a cascade of liquidations, accelerating downside volatility into the next major support. Overall, ETH is consolidating inside a compressed range, with leveraged positions stacked at both ￰12￱ $4,200 and $4,500 levels now act as critical trigger zones, and whichever side breaks first is likely to dictate the next decisive ￰13￱ then, traders should remain cautious, as the market remains vulnerable to liquidity hunts and false breakouts.