Peter Smith
⬤ Ethereum remains under technical pressure but is showing early signs of stabilization as price tests the broader downtrend. ETH is attempting to regain bullish structure, similar to Bitcoin, though confirmation requires a clear H4 market structure break. At the time of analysis, Ethereum was consolidating after a recent decline, with price hovering below a key resistance zone.
⬤ The chart highlights the importance of the weekly low near $2,156, which appears relatively weak compared to Bitcoin's structure. This suggests there's a higher chance this level could still be tested before any sustained recovery takes hold. In the near term, all eyes are on the $2,473 resistance and liquidity level. A decisive move above this area would confirm a bullish shift in market structure on the four-hour timeframe.
⬤ If Ethereum successfully reclaims $2,473 and holds above it, the next liquidity targets sit around $2,761 and $2,965, aligning with marked resistance levels on the chart. However, if price fails to gain acceptance above $2,473 after a liquidity sweep, bearish scenarios remain active. In that case, a downside market structure break could open the door for a move toward new weekly lows.
⬤ This setup outlines a clear decision point for the market. With the weekly low still looking vulnerable, Ethereum may need additional downside probing before a durable base forms. Price behavior around these liquidity zones will likely define short-term direction and shape broader sentiment in the days ahead.
Peter Smith
