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Ethereum Traders Monitor Key Resistance and Support Levels
Ethereum Market Analysis
- Market analyst Ted Pillows used a liquidity heatmap to identify key Ethereum price levels amid recent volatility.
- Ethereum's price fell by 1.64% over the past week.
Key Price Levels and Market Dynamics
- Pillows identified significant resting liquidity between $3,900 and $4,200, indicating a resistance zone due to concentrated limit orders.
- The $3,750 level acts as a potential support area in case of a price drop.
- A liquidity sweep scenario could see Ethereum dip to $3,750 before rebounding toward the $3,900–$4,200 range.
- Current market price is around $3,800, suggesting a possible short-term gain of 10% after an initial correction.
Ethereum Treasuries and Net Flow
- Despite Ethereum's 13.34% price drop last month, treasuries saw a net inflow of 550,000 ETH, indicating continued investor confidence.
- This inflow is lower than the 1.5 million ETH observed in August but remains significant.
- Ethereum's current price is $3,873 with a minor 0.44% daily gain, while trading volume decreased by 53.83% to $17.57 billion.
