#ETHUSDC $ETH
The Ethereum chart against USDC on Binance tells a compelling story of a powerful rally meeting an even stronger wall of resistance. The recent price action has left many traders wondering: is the bull run over, or is this just a breather?
Let's break down the technicals to map out the potential next moves for ETH.
**What Just Happened? The Rejection Narrative**e
Ethereum staged an impressive rally, climbing from lows near $3,700 to a stunning high of $4,791. This represents a massive move of over 29%. However, the party at the top was short-lived. The price was violently rejected from the $4,700 - $4,800 zone, creating a long upper wick on the 4-hour candle—a classic sign of selling pressure overwhelming buyers.
This zone wasn't just any resistance; it likely represented a psychological barrier and a key profit-taking area for large holders.
**Key Levels to Watch Now**
1. Immediate Support: The $4,000 - $4,065 Zone
This is the most crucial level on the chart right now. The price has already touched this area and found some initial buyers (note the wicks dipping to ~$4,008). This zone must hold for the bullish structure to remain intact. A strong bounce here could signal that the pullback is over and set up a retest of higher levels.
2. Curently all of the Liqudity is grabbed only some left around the above mentioned prices
So i am still bullish a wick towards these levels or lower then a quick reversal is intact.