- Ethereum may retest $4,470 before attempting a push toward $4,700 resistance.
- Key invalidation stands at $4,420, where a close below could trigger deeper retracement.
- Top traders show stronger long positioning, supporting the bullish continuation outlook.
Ethereum’s short-term structure points toward a corrective pullback before a continuation rally, with analysts projecting a potential retest near $4,470 ahead of a move toward $4,700.
Short-Term Corrective Phase in Ethereum
The 1-hour chart of Ethereum (ETH/USDT) reflects a controlled corrective phase within a broader bullish setup. Analyst Bitcoin Analyst (@Bitcoin_World20) suggests a pullback toward $4,470 support before recovery attempts at $4,700. The invalidation threshold sits at $4,420 on a closing basis.
At the time of writing, Ethereum trades at $4,568.23, accompanied by a 24-hour volume of $28 billion. The price has gained 0.56% in the last 24 hours and 10.53% across the past week. This performance keeps ETH firmly in bullish territory despite minor retracements on lower timeframes.
The projected correction aligns with a “retest and expansion” structure often seen in trending markets. Here, liquidity is collected below short-term lows before stronger hands initiate renewed upward legs. Such patterns provide disciplined traders opportunities to re-enter near defined supports.
Structural Support and Resistance Levels
The $4,470 region carries importance as it coincides with the mid-range of recent price action. It also aligns with prior consolidation zones where buyer activity emerged. Traders are expected to watch for bullish reversal signals at this level, such as engulfing candles or volume surges.
Meanwhile, the invalidation level remains at $4,420. Any hourly close below this point would compromise the current ascending structure and expose ETH to downside targets near $4,360–$4,300. For traders, maintaining strict risk management at this threshold is essential.
On the upside, $4,703 represents the immediate resistance. This level corresponds with previous swing highs, making it a logical profit-taking zone for those positioning near the projected retest. The balance between these technical zones defines Ethereum’s tactical short-term path.
Market Sentiment and Broader Performance
Ethereum maintains a constructive uptrend across multiple timeframes. In the last seven days, ETH has increased by 10.22%, whereas its 30-day performance is +5.98%. During the 90-day period, the asset has increased 79.50%, and the 180-day increase of +209.97% indicates a robust recovery period.
Trader positioning reflects consistent optimism. On Binance, the long/short ratio is 1.47, indicating nearly 60% of accounts lean long. OKX shows a more balanced 1.12 ratio, but still favors buyers. This demonstrates sustained confidence among retail traders.
Top traders display stronger conviction. On Binance, the top trader accounts ratio is 1.72, with positions ratio at 2.10. This shows professionals are holding more than twice as many long positions as shorts, aligning with the bullish continuation view.
