Overview

• ETH was rejected in the $4,750–$4,800 zone, slipped under $4,600 and the 100‑hour SMA, and broke an hourly uptrend near $4,560.
• Price tested the $4,440–$4,420 area and is consolidating; near‑term resistance sits at $4,520–$4,600 with $4,650–$4,750 next if reclaimed.
• Hourly MACD shows fading upside and RSI has dipped below 50, signaling weaker short‑term momentum.
• A decisive move below $4,420 could extend the pullback toward $4,250 with risk into the $4,100–$4,150 region.
• Exchange balances are at multi‑year lows, U.S. spot ETH ETFs recorded about $421 million of inflows on Oct. 7, and derivatives activity surged with volume up and open interest lower after a leverage flush.