ETH rally tops out at $4.8K, setting up a make-or-break moment for Ether bulls

Ethereum struggled to surpass the resistance level of $4,800, resulting in a 3% correction below $4,500. This decline corresponded with a bearish divergence observed on the four-hour chart, signaling a potential local top as buyers showed weakness. Although spot selling pressure increased, leveraged traders remained active, suggesting a wait for volatility rather than impulsive selling. A rebound from $4,400 could reset bullish momentum, whereas failure to hold this level could lead to corrections toward $4,250 to $4,100, significant demand zones. In terms of liquidity, Ethereum has seen a decline in exchange reserves, down over 25% since 2022, which may reflect reduced sell-side pressure. Furthermore, analysts note that if Ether maintains its position around the $4,700-$4,800 range, this could indicate a bullish sentiment. Conversely, if it falters, a deeper pullback might create a higher low, potentially positioning Ether for its next upward movement.

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