Ethereum\u2019s recent price movements reveal a strong seller presence, particularly around the critical resistance region at the 100-day moving average.<\/p>\n
This price action suggests increased downward pressure, with a corrective consolidation expected in the near term.<\/p>\n
By Shayan<\/a><\/p>\n Ethereum recently encountered heightened selling activity at the $2.6K resistance area, aligned with the 100-day moving average. This led to a rejection, pushing the asset back toward the dynamic support at the channel\u2019s middle trendline near $2.3K. The presence of sellers at this resistance zone suggests it remains a significant barrier for buyers, at least for the middle term.<\/p>\n Currently, ETH is trading within a confined range between the channel\u2019s middle support boundary and the 100-day moving average. A new uptrend could be underway if the price successfully breaks above the 100-day MA and confirms a pullback.<\/p>\n In this scenario, Ethereum\u2019s targets would be the 200-day MA at $2.9K and the channel\u2019s upper boundary near $2.8K. However, if selling pressure intensifies and ETH breaks below $2.3K, it may revisit the $2.1K support, likely leading to further retracements.<\/a><\/p>\n On the 4-hour chart, Ethereum\u2019s recent surge met significant selling pressure around the resistance zone between the 0.5 and 0.618 Fibonacci levels ($2.6K-$2.8K). This area has served as a strong barrier, indicating a supply concentration. A shift toward a bullish trend will depend on price action around this zone and a confirmed breakout.<\/p>\n Currently, Ethereum is holding near the lower boundary of the flag at $2.4K. A break below this support could trigger a liquidation cascade, potentially driving the price toward $2.1K. However, the more likely scenario involves a consolidation phase around this support level, with ETH potentially rebounding toward the 0.5 Fibonacci level until a decisive breakout occurs.<\/a><\/p>\n By Shayan<\/a><\/p>\n Ethereum\u2019s price has been consolidating within a narrow range, signaling market indecision. However, futures market insights reveal that a breakout could lead to a substantial liquidation event, likely amplifying the prevailing trend.<\/p>\n Based on the chart, liquidity has concentrated below the $2.4K level, suggesting this price range may be pivotal in the short term. Significant liquidity pools below $2.4K indicate that a downward breakout could attract more sellers and trigger long buyers to close their positions, intensifying the bearish momentum.<\/p>\n This scenario raises the possibility of a long squeeze, where a cascade of liquidations could drive Ethereum\u2019s price down to the $2.1K support level. For sellers, the area below $2.4K is an attractive threshold for lowering prices. Conversely, it represents a crucial defense line for buyers, whose actions near this level will be critical for determining the broader market trend.<\/p>\n If ETH breaks below $2.4K, it could quickly drop toward $2.1K due to the cascading effect of long liquidations. Alternatively, intense buying pressure at or near $2.4K could help stabilize the price, potentially averting further declines.<\/p>\n Ultimately, Ethereum\u2019s price action near the $2.4K threshold will be decisive for the short-term trend, and any movement beyond this range could signal a more decisive directional shift.<\/a><\/p>\n \u00a0<\/p>\n The post Ethereum Price Analysis: Is ETH Doomed to Dump to $2.1K After Recent Rejection?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum\u2019s recent price movements reveal a strong seller presence, particularly around the critical resistance region at the 100-day moving average. This price action suggests increased downward pressure, with a corrective consolidation expected in the near term. Technical Analysis By Shayan The Daily Chart Ethereum recently encountered heightened selling activity at the $2.6K resistance area, aligned […]<\/p>\n","protected":false},"author":0,"featured_media":17539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17538"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17539"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Daily Chart<\/h3>\n
The 4-Hour Chart<\/h3>\n
Onchain Analysis<\/h2>\n
![<\/a><\/p>\nThe 4-Hour Chart<\/h3>\nOn the 4-hour chart, Ethereum\u2019s recent surge met significant selling pressure around the resistance zone between the 0.5 and 0.618 Fibonacci levels ($2.6K-$2.8K). This area has served as a strong barrier, indicating a supply concentration. A shift toward a bullish trend will depend on price action around this zone and a confirmed breakout.<\/p>\nCurrently, Ethereum is holding near the lower boundary of the flag at $2.4K. A break below this support could trigger a liquidation cascade, potentially driving the price toward $2.1K. However, the more likely scenario involves a consolidation phase around this support level, with ETH potentially rebounding toward the 0.5 Fibonacci level until a decisive breakout occurs.<\/a><\/p>\nOnchain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nEthereum\u2019s price has been consolidating within a narrow range, signaling market indecision. However, futures market insights reveal that a breakout could lead to a substantial liquidation event, likely amplifying the prevailing trend.<\/p>\nBased on the chart, liquidity has concentrated below the $2.4K level, suggesting this price range may be pivotal in the short term. Significant liquidity pools below $2.4K indicate that a downward breakout could attract more sellers and trigger long buyers to close their positions, intensifying the bearish momentum.<\/p>\nThis scenario raises the possibility of a long squeeze, where a cascade of liquidations could drive Ethereum\u2019s price down to the $2.1K support level. For sellers, the area below $2.4K is an attractive threshold for lowering prices. Conversely, it represents a crucial defense line for buyers, whose actions near this level will be critical for determining the broader market trend.<\/p>\nIf ETH breaks below $2.4K, it could quickly drop toward $2.1K due to the cascading effect of long liquidations. Alternatively, intense buying pressure at or near $2.4K could help stabilize the price, potentially averting further declines.<\/p>\nUltimately, Ethereum\u2019s price action near the $2.4K threshold will be decisive for the short-term trend, and any movement beyond this range could signal a more decisive directional shift.<\/a><\/p>\n\u00a0<\/p>\nThe post Ethereum Price Analysis: Is ETH Doomed to Dump to $2.1K After Recent Rejection?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Ethereum\u2019s recent price movements reveal a strong seller presence, particularly around the critical resistance region at the 100-day moving average. This price action suggests increased downward pressure, with a corrective consolidation expected in the near term. Technical Analysis By Shayan The Daily Chart Ethereum recently encountered heightened selling activity at the $2.6K resistance area, aligned […]<\/p>\n","protected":false},"author":0,"featured_media":17539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17538"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17539"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/ETH-D-scaled.jpg\"){kind=link}
![<\/a><\/p>\nOnchain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nEthereum\u2019s price has been consolidating within a narrow range, signaling market indecision. However, futures market insights reveal that a breakout could lead to a substantial liquidation event, likely amplifying the prevailing trend.<\/p>\nBased on the chart, liquidity has concentrated below the $2.4K level, suggesting this price range may be pivotal in the short term. Significant liquidity pools below $2.4K indicate that a downward breakout could attract more sellers and trigger long buyers to close their positions, intensifying the bearish momentum.<\/p>\nThis scenario raises the possibility of a long squeeze, where a cascade of liquidations could drive Ethereum\u2019s price down to the $2.1K support level. For sellers, the area below $2.4K is an attractive threshold for lowering prices. Conversely, it represents a crucial defense line for buyers, whose actions near this level will be critical for determining the broader market trend.<\/p>\nIf ETH breaks below $2.4K, it could quickly drop toward $2.1K due to the cascading effect of long liquidations. Alternatively, intense buying pressure at or near $2.4K could help stabilize the price, potentially averting further declines.<\/p>\nUltimately, Ethereum\u2019s price action near the $2.4K threshold will be decisive for the short-term trend, and any movement beyond this range could signal a more decisive directional shift.<\/a><\/p>\n\u00a0<\/p>\nThe post Ethereum Price Analysis: Is ETH Doomed to Dump to $2.1K After Recent Rejection?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Ethereum\u2019s recent price movements reveal a strong seller presence, particularly around the critical resistance region at the 100-day moving average. This price action suggests increased downward pressure, with a corrective consolidation expected in the near term. Technical Analysis By Shayan The Daily Chart Ethereum recently encountered heightened selling activity at the $2.6K resistance area, aligned […]<\/p>\n","protected":false},"author":0,"featured_media":17539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17538"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17539"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/ETH-4H-scaled.jpg\"){kind=link}
![<\/a><\/p>\n\u00a0<\/p>\nThe post Ethereum Price Analysis: Is ETH Doomed to Dump to $2.1K After Recent Rejection?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Ethereum\u2019s recent price movements reveal a strong seller presence, particularly around the critical resistance region at the 100-day moving average. This price action suggests increased downward pressure, with a corrective consolidation expected in the near term. Technical Analysis By Shayan The Daily Chart Ethereum recently encountered heightened selling activity at the $2.6K resistance area, aligned […]<\/p>\n","protected":false},"author":0,"featured_media":17539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17538"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17539"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/11\/Binance_ETH_USDT_Liquidation_Heatmap1_month_2024_11_03_14_19_53-scaled.jpg\"){kind=link}