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12/15 10:32
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Ethereum's Price Action: Ethereum's recent rally has stalled at the $3.2K resistance level due to heavy selling pressure, leading to a consolidation phase that may dictate its next major price movement.
Technical Analysis Overview: The daily chart indicates a bearish structure with a potential deeper retracement towards the $2.6K support zone, while the 4-hour chart shows a reversal after hitting the $3.2K region, suggesting continued fluctuations within the $3K–$3.6K range.
Market Sentiment and Liquidity: The recent price rejection coincided with a liquidity sweep below the $3032 market low, which could indicate a potential upward move towards the $3.3K region before any broader corrections occur.
Future Outlook: The current market conditions suggest that Ethereum may experience more consolidation before establishing a clear direction, with the $3.2K resistance and $2.6K support being critical levels to watch.
