Ethereum Price Analysis: Bullish Momentum Fades as ETH Is Rejected at $4.5K

Ethereum’s bullish structure has started to show early signs of exhaustion as the price retraces from the $4,400 resistance ￰0￱ maintaining a strong mid-term uptrend, short-term momentum has weakened after a local bearish divergence and a recent market structure ￰1￱ next few days will be key to determining whether this is just a healthy correction or the start of a deeper ￰2￱ Analysis By Shayan The Daily Chart On the daily timeframe, ETH remains inside a long-term ascending channel but has once again failed to break through the $4,800 resistance ￰3￱ asset is now dropping toward the channel’s lower trendline and the 100-day moving average at $4,000.

The RSI has also cooled to 49, indicating that bullish momentum has faded for now but hasn’t turned bearish ￰4￱ long as the structure holds above $4,000, the broader trend remains intact. However, losing that level could open the door for a deeper move toward $3,400, where the next significant demand zone ￰5￱ 4-Hour Chart In the 4-hour view, ETH has confirmed a Market Structure Shift (MSS) after failing to sustain higher highs near $4,800. A clear bearish divergence on RSI supported this move, showing momentum loss before the ￰6￱ price has now entered a short-term corrective phase and could revisit the $4,200–$4,100 zone, which aligns with previous ￰7￱ buyers to regain control, ETH needs to reclaim $4,500 and invalidate the recent lower-high ￰8￱ then, short-term bias remains slightly bearish within the context of the broader bullish ￰9￱ Analysis Open Interest Open interest across all exchanges remains elevated at around $28.5 billion, showing that derivatives traders are still heavily positioned despite the recent ￰10￱ suggests strong speculative interest, but it also means the market is vulnerable to liquidations if volatility ￰11￱ open interest continues to stay high while price trends lower, it could trigger a cascade of forced long liquidations before a proper bottom ￰12￱ the flip side, a gradual cooling of open interest during this correction would signal healthy resetting of leverage, potentially setting the stage for ETH’s next leg higher.