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ETHUSD shows extended downside potential amid structural weakness. Technically, the pair recently confirmed a break of structure (BOS) around $3,830, signifying a shift from accumulation to distribution. Despite a short-term bounce attempt, price action remains below the prior order block (OB) in the $4,290–$4,870 range, which now acts as a supply zone. The market could attempt a liquidity grab above the Buy-Side Liquidity (BSL) near $4,070 before resuming the prevailing downtrend.
ETHUSD may sustain its descent once rejection from the $4,290 resistance region becomes evident. If bearish pressure persists, the price could slide toward the key demand level at $3,530, representing the next major support zone. A decisive break below this level would expose further downside targets near $2,850, aligning with the broader macro support region. In an extended bearish case, Ethereum could even test the $2,150 level over subsequent sessions. Overall, unless price action reclaims and stabilizes above $4,870, market’s directional bias remains convincingly bearish.
ETH Key Levels
Supply Levels: $4700, $4870, $5500
Demand Levels: $3530, $2860, $2150
What are the indicators saying?
Ethereum continues to exhibit a bearish posture on the daily timeframe, with market indicators aligning to reinforce downward momentum. The 9-day Simple Moving Average (SMA) has turned into a dynamic resistance zone, currently around $3,900, indicating sustained seller dominance. The MACD histogram remains in negative territory, with the signal line diverging below the zero axis, suggesting continued bearish pressure. This broader setup points to weak bullish momentum and a lack of volume-driven recovery, reinforcing that the bears maintain control over market sentiment in the short to medium term.
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