$ETH Major Drop – Is ATH Just a Dream or Loading Soon? My Analysis + Experts’ Take

Ethereum just faced a heavy rejection near $4,780 and slipped back to the $4,270 zone. Looking at both the 1D and 3D charts, the structure is still bullish but under pressure. On the daily chart, $ETH lost the short-term 7 EMA around $4,380 but is still holding above the 25 EMA near $4,040. That keeps the broader uptrend alive, though momentum cooled off fast. The 3D chart shows price still riding above the 7 EMA around $4,160, so the bigger trend has not broken yet.

The key range now is $3,700–$4,230. This is the demand pocket where buyers are likely to step in. If ETH holds this band and stabilizes, it sets the stage for a bounce. Indicators are stretched from the selloff, and that kind of volatility often gives way to a relief move once sellers tire out.

On the whale side, activity is split. Some large wallets booked profits and even closed long positions worth tens of millions, but others aggressively bought the dip, adding to their stacks while retail panic sold. That explains why the candle looks heavy but not catastrophic—big players are still circling.

Well-known analysts have pointed out that ETH’s mid-trend structure remains intact, and devs continue to push upgrades and improvements on the network, which supports the long-term case. Short-term, it’s about surviving this correction. If ETH can reclaim $4,380–$4,550 over the next one to two days, bullish momentum should return, with another attempt at $4,750–$4,800 resistance.

ATH dreams aren’t dead, just delayed. What matters is whether bulls defend that $3,700–$4,230 zone now and flip back above the daily EMAs quickly. If that happens, the recovery could start as soon as within 1–2 days.