#Ethereum – Sharp Pullback After Local High

$ETH has faced a steep rejection from $4,788, triggering heavy selling pressure across both 4H and 15m charts.

4Hr Chart Insights

MA7 ($4,703) has been decisively broken, shifting momentum short-term bearish.

Price is now hovering around MA25 ($4,466) – this is the key zone bulls must defend.

Below $4,466, next strong support lies at $4,245, followed by $3,942.

Bearish engulfing candle suggests sellers have taken control after a strong rally.

15mins Chart Insights

Breakdown from $4,730 resistance led to a freefall below MA200 ($4,639).

Intraday low touched $4,451 before a minor recovery attempt.

Immediate resistance levels: $4,582 → $4,656 → $4,703.

Short-term RSI likely oversold, so bounces are possible, but without reclaiming $4,703, any upside could be capped.

Key Technical Levels

Support: $4,466 → $4,245 → $3,942

Resistance: $4,582 → $4,656 → $4,703

Bearish Continuation Trigger: Close below $4,466 on higher timeframes.

Bullish Recovery Trigger: Strong reclaim of $4,703 with momentum.

Conclusion : The trend has shifted into bearish pressure mode on lower timeframes, with the 4Hr structure at risk of further downside if $4,466 breaks. Bulls need to reclaim the $4,703 zone to regain control; otherwise, a deeper retracement toward $4,245 remains likely.