- The Ethereum price action seemed to be a reach within a range and moved by liquidity bags
- $ 2,570 and $ 2,450 levels were the one where the traders would be interested in the lower time
Ethereum [ETH]At the time of the press, it seemed to act again below the $ 2,550 level again after the weekend fell under it and to test it again as resistance. In a recent report, Ambcrypto actually noted that the $ 2,480 level was probably tested as support because of the cluster of liquidation levels there.
Since then this prediction has been released, with ETH falling to $ 2,475 on Monday morning before it bounces above $ 2,500 per press time. Heavy capital outflows and a peak in Taker Sell Vope meant that sellers were dominant.
On the other hand, whales seemed to return to the market. There was a brief increase in buying, which resulted in negative network flows. Could this be an early sign of a trend removal?
Assessing the price promotion of Ethereum
Source: Stretch proof on x
In a message on X, technical analyst Rough -free It noted that ETH could be attracted to liquidity around $ 2,462 before they gather up to $ 2,560. This idea was based on the price action for the past ten days, with ETH more than $ 2,745 deviating. This wave was followed by a fast slump.
The idea was that these movements were powered by the constant search for liquidity and liquidation levels. As the analyst and ambcrypto suggested, a movement took place below $ 2,480, followed by a jump to $ 2,565.
At the time of the press, the attempt at a place above the local high was confronted with $ 2,550 in the short term with rejection. A persistent step to the high last week did not come out and Ethereum continued to act within the weekend range.
Source: Coinglass
The liquidation heat revealed that there was a cluster of liquidity at $ 2,450. A structure of liquidation levels at $ 2,570 was also seen. The last level was not swept and we could see a small bouncing to or just above $ 2,570.
The magnetic zone below $ 2,500 would be the next target. The weekend range for Ethereum probably seemed to continue the week. A decrease up to $ 2,450 would offer a buying option, aimed at the local highlights at $ 2,800.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer