Peter Smith
⬤ ETH is trading right at a major technical barrier around $3,250, testing a key resistance zone that's been capping upside moves in recent sessions. Ethereum has reached what traders are calling a crucial level, especially after Bitcoin cleared out a massive chunk of short liquidity from the broader crypto market. On the 4-hour chart, ETH has been climbing steadily into this resistance band, making the next directional move critical for short-term sentiment.
⬤ Here's what's at stake: if Ethereum can't reclaim the $3,250 level on a sustained 4-hour basis, weakness could trigger shorts back toward the fragile monthly open near $2,965. That zone looks vulnerable and likely to get retested. There's another downside reference around $2,950, where a sweep of the lows might set up a better entry point for fresh long positions if a reversal signal appears.
⬤ On the flip side, if ETH reclaims and holds $3,250 on a full 4-hour close, the bias shifts bullish. In that scenario, the next upside target sits around the prior highs near $3,450. Still, the near-term bias leans slightly bearish due to the weak structure around the monthly open, which increases the odds of that level getting tested. A support-and-resistance flip around $3,050 is also on the radar, though it's considered mid-range and riskier given the weak lows sitting below.
Peter Smith
