Ethereum Price Dips After $4,950 Liquidity Grab
Ethereum price fell 4% after a $4,950 liquidity grab that liquidated $720 million of longs. Ethereum price testing support near $4,500 faces risk of further decline toward $4,300 if this level breaks. Immediate resistance sits at $4,880–$4,950. Whale activity remains strong: on-chain data shows $1.6 billion of ETH accumulated by large holders this week, and Binance whale demand aligns with the $4,590–$4,760 Fibonacci zone. Historical trends suggest September corrections often follow August rallies, increasing downside risk for Ethereum. Short-term trading ranges are $4,500–$4,880, while a close above $4,950 could resume the uptrend toward $5,500. Market watchers should monitor these key levels and whale flows for trading opportunities.
Bearish
The bearish view stems from Ethereum’s failure to hold key support at $4,500 following a sharp pullback from $4,950. The large-scale long liquidations signal short-term selling pressure. Historical patterns show that strong August rallies are often followed by September corrections. Although whale accumulation offers some support, the risk of a drop toward $4,300 remains high if $4,500 gives way. This scenario suggests more downside in the near term. Long-term bullish trends depend on a reclaim above $4,950 and renewed momentum. Traders should therefore adopt a cautious stance, focusing on defined risk levels.