Oh, Ethereum, you fickle beast. 🦄 Currently, you’re stuck between a rock and a hard place-or, more accurately, between some fancy “higher-timeframe support” and a wall of “heavy resistance.” 🧱🚧 Bulls, darling, you’ve got to hold the $3.9K line like it’s the last slice of pizza at a party. 🍕 If you don’t, the uptrend might just ghost you. 👻
But hey, if you can reclaim the $4.2K resistance band, it’s like getting a second date after a disastrous first one. 💃✨ Confirmation for a continuation move? Sure, let’s call it a rebound romance toward the previous highs. 💘
Technical Analysis (Because Numbers Don’t Lie, Unlike Your Ex)
By Shayan (the wizard behind the charts) 🧙♂️
The Daily Chart: Where Drama Unfolds
On the daily chart, ETH has pulled back from its recent peak like someone realizing they left the oven on. 🔥 It’s now chilling at a critical support confluence-100-day moving average, ascending channel’s lower boundary, all around $3.8K. 🛋️ Despite the sell-off, it’s still above the 200-day moving average, which is basically its safety blanket. 🧵
The rejection from the $4,600-$4,700 order block has left ETH feeling a bit vulnerable, like when you accidentally send a text to the wrong person. 😬 But as long as it stays above $3.8K-$3.9K, there’s hope for a recovery. A daily close back above the order block? That’s like getting a “let’s try again” text. 💌
The 4-Hour Chart: The Soap Opera Continues
On the 4-hour chart, ETH sharply declined into the $3,800-$3,900 demand region, which is basically its emotional support zone. 🛏️ Buyers swooped in like friends at a breakup party, lifting the price toward the $4,200 zone. Now it’s testing resistance like someone trying to decide if they should text their ex. 📱
Above this level, the $4,300-$4,400 range is the next big hurdle, aligning with the decision point (DP) and key Fibonacci retracements. 🧮 Fail to reclaim momentum above $4,200? It’s consolidation city, baby, or maybe another retest of the $3,800 demand block. 🏙️ But a clean breakout? That’s a ticket to revisit higher resistance zones, ultimately eyeing the $4,600-$4,700 order block. 🚀
Sentiment Analysis: The Emotional Rollercoaster 🎢
By Shayan (still the wizard) 🧙♂️
The liquidation heatmap shows ETH’s recent decline triggered a long squeeze, wiping out overleveraged positions like a dramatic breakup. 💔 But it rebounded just below $3,900, because ETH always bounces back. 🏀
Now, it’s pressing against the $4,200 resistance, where another liquidity cluster has formed. This zone is both a hurdle and a magnet-like that one friend who’s always the center of attention. 🧲 If ETH breaks above this area, it’s smooth sailing toward the $4,700 swing highs. ⛵️ The market loves liquidity pools, so a sweep of those highs is looking likely. 🌊
In short, buyers need to absorb the supply at $4,200, but the bigger liquidity pool above $4,700 suggests ETH’s path is still upward. 🚀 So, will it moon or doom? Only time (and Shayan’s charts) will tell. 🌕🌑
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2025-09-29 17:42