🔻 ETH broke an important level and dropped to $3,965 — the lowest in the last ~7 weeks.
📉 Weekly losses amounted to –12.4%, daily losses — –2.93%.
💥 Liquidations of long positions exceeded $134 million, which intensified pressure on the price. The total amount of liquidations for ETH is about $140 million.
😱 A major player lost $36.4 million, which highlights the high volatility and riskiness of trading at these levels.
🐋 Whale behavior:
Part is withdrawing ETH from exchanges (accumulation/long-term storage).
Part is actively selling (profit-taking or panic reaction).
➡️ This creates conflicting dynamics and uncertainty in the short term.
📊 Technical picture:
Level $4,000 — key support. A downward breakout increases selling pressure.
The following support zones: $3,800–3,750.
Resistances: $4,200–4,500 — a return above will signal the resumption of growth.
MA and volumes show a downward impulse, but the market is close to a possible reversal point.
✍️ My opinion:👇
Currently, the strength of the bulls is being checked.
If ETH holds $4,000 and increased buying volume appears, a quick rebound is possible 📈🚀.
If the level does not hold — a drop to the zone of $3,750 looks likely ⚠️.
In the medium term, interest from institutional players and whales may support the price, but locally the market remains under pressure.
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