Ethereum’s recent rally has stalled at the $3.2K resistance zone, where heavy selling pressure triggered a clear rejection.
The asset is now trading within a narrow consolidation range, and the next decisive breakout is likely to dictate the following major move.
By Shayan
Ethereum’s rebound from the $2.6K support zone extended into a key supply area, where a daily FVG converges with a long-standing downward trendline near $3.2K.
This confluence attracted significant selling interest, halting the advance and producing a sharp rejection. The pullback has also resulted in the formation of a daily lower low, keeping the broader structure tilted bearish.
With this shift, the possibility of a deeper retracement has increased, making the $2.6K support zone the primary downside target.
For now, Ethereum remains range-bound, and a breakout from this tight structure will likely determine the next dominant trend.
On the 4-hour chart, Ethereum initially broke above the short-term descending trendline and pushed higher.
However, strong supply at the $3.2K region prompted a reversal, sending the price back toward a critical support area composed of a bullish order block overlapping a prior breaker block.
This layered confluence increases the likelihood of a reaction in this zone, making it a decisive level in the short term.
As a result, the market continues to fluctuate within the broader $3K–$3.6K range, suggesting that more consolidation is likely before a clear direction emerges.
By Shayan
The weekly liquidation heatmap shows that the recent rejection was accompanied by a sweep of the liquidity pool, which sits just below the $3032 market low, capturing buy-side liquidity.
Such liquidity grabs often precede a fresh upward leg as the market seeks higher pockets of liquidity.
At present, the next major cluster rests around the $3.3K region, acting as a natural price magnet following the recent sweep. From a supply-demand standpoint, this positions Ethereum for a short-term upward move toward that zone before any broader correction resumes.
The post Ethereum Price Analysis: ETH Stopped at $3.2K, is Another Major Crash Coming? appeared first on CryptoPotato.
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