Overview
- ETH trades below $3,220 and the 100‑hour simple moving average, with near‑term risk flagged toward $3,160–$3,140, according to the latest intraday analysis.
- A rejection near the value‑area high around $3,400 confirmed distribution and followed an impulsive drop from the recent highs.
- Short‑term views diverge: analyst Tyrex warns that losing local support opens a path to the $3,209–$3,221 area, while others see scope for a rebound if $3,200 holds.
- Brave New Coin reports roughly $648 million in ETH derivatives liquidations over 24 hours, underscoring elevated volatility around key levels.
- Institutional and whale positioning remains a factor, with prior BlackRock ETH purchases and a recent $234 million long noted as potential supports for a retest toward $3,400 if buyers defend the floor.