$ETH saw a sharp pullback after hitting resistance at $4,340, quickly dropping to $4,260. This sudden move was driven by a wave of long liquidations and profit-taking from large holders, compounded by the current weak macro environment.
Key Levels to Watch:
Support: $4,200–$4,225 – this zone is crucial. If it holds, we could see a bounce.
Resistance: $4,340 – the rejection point that triggered this sell-off.
Trading Insight: A firm hold above $4,200 might spark a rebound, but a break below this level could accelerate the decline toward $4,150. Traders should stay alert and watch for follow-through from either side.