Ethereum is trading at $3,573.82 after retreating from a recent high of $3,728 amid increased short positioning.
A strong liquidity cluster is forming between $3,680 and $3,730, with reduced activity above $3,730 up to $3,871.
Price action aligns with the Wyckoff reaccumulation model, with ETH entering the “jump across the creek” phase.
Ethereum, the second-largest cryptocurrency by market cap, is trading near $3573 following a retracement from recent highs close to $3728. Market activity shows a sharp shift in short positioning, with dense resting orders now accumulating just above current levels.
What is the Current Market Trend for ETH?
Ethereum is trading at $3,573.82, down 2.33% over the past 24 hours. The intraday high reached $3,661.5 before the price dropped sharply in the evening session. In line with the price decrease, the market cap declined to $431.4 billion.
Source: CoinMarketCap
Trading volume over 24 hours fell 14.56% to $48 billion, reflecting lower participation. The price dipped below $3,500 overnight, rebounded slightly, and settled in the $3,550–$3,600 range.
Volatility remained elevated, with sharp reversals observed in both directions. Despite brief recoveries, downward pressure continued through the early morning. The volume-to-market cap ratio stood at 10.88%, showing moderate relative activity.
Liquidity Concentrates Around $3700
The heatmap shows a strong liquidity cluster between $3680 and $3730. This range is absorbing significant order volume and aligns with recent resistance levels, which previously capped upward momentum. If the price reaches this zone again, filled orders may trigger sharp movement toward the $3800 mark. Above $3730, order activity decreases until the $3871 range.
Source: CryptofyHub (X)
ETH recently climbed from below $3200, clearing liquidity zones near $3299 and $3442. After hitting a local high at $3728, the price retraced to the mid-$3500 range. Trading activity remains focused above $3442, where buyers previously stepped in.
Below $3442, visible liquidity drops, indicating weaker buy-side support. This could create room for rapid declines if sell pressure increases. However, market participants continue to load limit orders above the current price, positioning near the yellow cluster. With concentrated liquidity overhead, price behavior may accelerate into higher levels if current conditions persist.
Ethereum Price Action Aligns with Reaccumulation Structure
Despite the slight dip and the liquidity as observed, Ethereum is currently tracking a Wyckoff reaccumulation pattern, following a multi-month consolidation between two key price levels. After declining through a downward-sloping range marked “creek,” ETH formed consecutive lower highs before reaching a low near $2,000.
Source: CryptoGems (X)
Following the “spring,” Ethereum rebounded and retested the support area, confirming the lower boundary of the trading range. A Last Point of Support (LPS) was then developed, marking a crucial structural shift before the price moved upward.ETH has now moved above the “creek,” entering the “jump across the creek” phase of the Wyckoff model.
The top boundary of the range remains just under $4,000. If this area holds during upcoming retests, Ethereum may target new upside levels. The inset diagram mirrors the main chart’s labeled phases.
