Will ETH Pull Back to $2.8K Before Next Leg Up?
The post Will ETH Pull Back to $2.8K Before Next Leg Up? appeared on BitcoinEthereumNews.com. While the bullish trend remains intact, Ethereum is entering a key consolidation range. A successful retest of $2.8K could ignite the next wave toward $3.3K and beyond. Technical Analysis By ShayanMarkets The Daily Chart ETH has recently seen a notable influx of buying pressure, breaking above the key $2.8K resistance, which had acted as a persistent barrier in recent months. This breakout has led to the formation of a higher high, signaling a shift toward a bullish market structure on the daily timeframe. However, Ethereum now finds itself trading within a critical range between $2.8K and $3.3K, where a short-term consolidation phase is likely. The upper boundary of this range also aligns with a bearish order block, suggesting potential supply and selling pressure at this level. If Ethereum manages to break above the $3.3K resistance, the next bullish target would likely be the $4K psychological threshold, a major technical and psychological level. The 4-Hour Chart On the lower timeframe, ETH’s impulsive rally has been halted near the $3K level, as momentum cools. The $2.8K zone, previously strong resistance, is now being retested as support. A proper pullback to this region would serve to validate the breakout and establish a stronger base for the next leg up. The 0.5-0.618 Fibonacci retracement levels also serve as potential targets for this ongoing correction, providing confluence with short-term demand zones. In the coming days, Ethereum is expected to consolidate and correct, potentially setting the stage for another bullish rally toward the $3.3K resistance. Sentiment Analysis By ShayanMarkets This chart visualizes the Binance Liquidation Heatmap, which pinpoints zones where significant liquidation events are likely to unfold. These areas often act as liquidity magnets, attracting price action due to the high concentration of leveraged positions. In such scenarios, large players or “whales” tend to capitalize on…
The post Will ETH Pull Back to $2.8K Before Next Leg Up? appeared on BitcoinEthereumNews.com.
While the bullish trend remains intact, Ethereum is entering a key consolidation range. A successful retest of $2.8K could ignite the next wave toward $3.3K and beyond. Technical Analysis By ShayanMarkets The Daily Chart ETH has recently seen a notable influx of buying pressure, breaking above the key $2.8K resistance, which had acted as a persistent barrier in recent months. This breakout has led to the formation of a higher high, signaling a shift toward a bullish market structure on the daily timeframe. However, Ethereum now finds itself trading within a critical range between $2.8K and $3.3K, where a short-term consolidation phase is likely. The upper boundary of this range also aligns with a bearish order block, suggesting potential supply and selling pressure at this level. If Ethereum manages to break above the $3.3K resistance, the next bullish target would likely be the $4K psychological threshold, a major technical and psychological level. The 4-Hour Chart On the lower timeframe, ETH’s impulsive rally has been halted near the $3K level, as momentum cools. The $2.8K zone, previously strong resistance, is now being retested as support. A proper pullback to this region would serve to validate the breakout and establish a stronger base for the next leg up. The 0.5-0.618 Fibonacci retracement levels also serve as potential targets for this ongoing correction, providing confluence with short-term demand zones. In the coming days, Ethereum is expected to consolidate and correct, potentially setting the stage for another bullish rally toward the $3.3K resistance. Sentiment Analysis By ShayanMarkets This chart visualizes the Binance Liquidation Heatmap, which pinpoints zones where significant liquidation events are likely to unfold. These areas often act as liquidity magnets, attracting price action due to the high concentration of leveraged positions. In such scenarios, large players or “whales” tend to capitalize on…
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