🟢 $ETH Shakeout at $4,600 – Is the Next Leg to $5K Loading?
Today’s drop wasn’t random. The whole market took a hit after a sharp $ETH whale liquidation triggered a chain reaction across crypto. Liquidity thinned out fast, shorts piled in, and that’s what dragged ETH from its highs near $4,956 straight back under $4,520.
On the short timeframes (15m, 1h) you can see sellers still pressing, EMAs curling down. But the 4h and daily show the real story—Ethereum is holding $4,600 like it’s home base. Every dip into that zone is attracting buyers, volume proves it.
While Bitcoin stayed flat in the chaos, ETH actually bounced almost 9% this week. That’s strength. It tells me the sell-off wasn’t about Ethereum’s fundamentals—it was the broader market shakeout sparked by leverage and panic.
If $4,600 keeps holding, I still see $5K as the next target. Today’s flush was fear and liquidations, not a broken trend. ETH took the hit, shook out the weak hands, and looks ready to climb again.
