Moving to the technical side of Ethereum, starting from the Weekly Time frame, the situation is very similar to BTC. The price recently tapped in a Weekly Order Block and got rejected from it.

Now the way price tapped into that weekly Order Block was not that momentous and the way price rejected off that Order Block shows bullish strength. Now just below that weekly Order block at the level of $1689, there is much liquidity lying which could drive the price downwards. But could that happen now? Well right now, the majority of the traders are waiting for that level as S&R traders would be waiting for that level to get into longs, while institutions traders would be waiting for the price to grab that liquidity and then get into longs. But as the majority is expecting that, so it’s very possible that market makers might do an upfront run from this Order Block which would kick the FOMO situation is the traders and they would try to get in involved at higher rates and once these things happen, then it’s very possible that Ethereum would get dumped more below that liquidity till around $834 as there is some imbalance there.

Now the bullish move, for the time being, can end around $3770 as that’s an unmitigated Weekly Order Block, and just below that there is some imbalance left. There is one more Order Block which is around $2927 but as that is in a DISCOUNT PRICING, there is a very high chance that that gets induced just to trap early sellers.

Moving down to the daily Time Frame, the price has lost its bearish Momentum, broke the Descending Correction, and is on its way to make a new Lower High which may eventually push the price to that Point of Interest.

Moving more lower to the 4 Hour Time Frame, the price as soon as it touched the Weekly Order Block started to do a Wyckoff Accumulation and price is very likely to bounce now, as on 4 Hour Time Frame, at different Places there are imbalances left which can drive the price to them as a magnet.

Now as this whole scenario is very much similar to the BTC movement, this is very much high probable, but sudden and unexpected moves in BTC can invalidate this whole scenario.