Ethereum’s price has entered a corrective phase after failing to sustain above the $2.44K-$2.51K resistance zone, trading near $2.37K. Weakening short-term structure on the 4-hour chart suggests sellers are gaining control. Key Fibonacci retracement levels point to potential support at $2.21K and $2.13K, with a deeper pullback targeting the $2.07K-$2.16K support zone. Liquidation data shows a concentration of liquidity around $2.32K-$2.36K as a near-term target. A recovery above $2.43K-$2.51K would reduce bearish pressure.
Ethereum’s post-breakout consolidation has shifted toward a corrective phase, with the price falling below the lower end of its recent range. The broader recovery remains intact, but weakening short-term structure indicates ETH could seek liquidity at lower levels.
The daily chart shows the market cooling after the rally from the $1.85K-$1.92K base. The move carried ETH into the $2.44K-$2.51K resistance zone, but buyers have repeatedly failed to establish acceptance above this area. Latest candles show a gradual shift in favor of sellers, with ETH trading near $2.37K.
If the correction develops further, Fibonacci retracement levels provide a roadmap. The 0.5 level sits around $2.21K, while the 0.618 retracement near $2.13K overlaps with the $2.07K-$2.16K support zone, making this region a key potential demand area. The broader bullish structure would not necessarily be invalidated by such a correction.
On the 4-hour timeframe, a clearer deterioration is visible. ETH has broken beneath its $2.43K-$2.51K range and is approaching $2.37K. Recent rebounds have become less effective, with the latest rejection from $2.48K-$2.50K followed by another sharp move lower.
The first major pullback zone is located around $2.21K-$2.31K. Little price structure exists between the current market and this area, making a deeper retracement plausible if selling continues. The next support sits around $2.07K-$2.12K.
The two-week ETH liquidation heatmap reinforces the possibility of a move lower. A substantial concentration of liquidation liquidity is visible immediately beneath the market, roughly around $2.32K-$2.36K. This downside liquidity represents the most relevant near-term target, aligning with the weakening technical structure. A sweep of liquidity below could serve as the first objective of the developing pullback.
