Ethereum Price Stays Around $4,100 as Market Anticipates Major Breakout or Reversal

Current Price and Market Sentiment: Ethereum is trading around $4,110, having recently reclaimed the $4,000 level, but faces resistance at $4,100, which was previously a support zone. Market observers are cautious as the price movement indicates uncertainty among traders.

Technical Analysis and Key Levels: The market structure remains negative, with moving averages above the current price, suggesting sellers have the upper hand. A failure to break above the $4,100–$4,397 range could lead to a decline towards the $3,400–$3,200 support zone.

Derivatives Positioning: Market metrics show strong participation with a capitalization of $496.1 billion and a trading volume of $23.78 billion, indicating genuine buying interest. Derivatives data reflects a bullish tilt among traders, with long positions outnumbering shorts.

Liquidity and Market Activity: The recent trading activity has provided liquidity that supports Ethereum's recovery, helping to absorb buying and selling pressures effectively. Liquidation data remains low, indicating orderly market adjustments rather than forced sell-offs.