Ethereum Stuck In Tight Price Range — Levels To Watch

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Prominent market analyst Ted Pillows has highlighted the immediate key price levels in the Ethereum market using data on liquidity heatmap. This analysis follows a turbulent price display over the past week during which Ethereum prices fell by 1.64%. Related Reading Ethereum Price Could Crash Below $3,400 After Rejection From 0.618 Fibonacci Level 1 day ago Ethereum Traders Brace For Potential Sweep Before Reversal 

In an X post on November 1, Pillows shares data from Coinglass on the Ethereum liquidity heatmap, identifying significant resting liquidity on both sides of the current price action.

Notably, the upper band, which lies between $3,900 and $4,200, represents a heavy concentration of limit orders as many traders are positioning themselves for potential selling activity once ETH revisits this area. Therefore, this price range acts as a major resistance zone critical for market bulls to reclaim in any potential push for a sustained uptrend.

On the downside, there is also a notable liquidity cluster around $3,750 acting as a potential magnet for price and a key support area in a price crash situation. Source: @TedPillows on X

Looking at this setup, Ted Pillows postulated that Ethereum could be setting up for a liquidity sweep, a common pattern where price dips into an area of high liquidity to trigger stop losses and fill bids before reversing upward. If this scenario plays out, a short-term move toward $3,750 could precede a sharp rebound, potentially targeting the $3,900–$4,200 resistance region once more.

With present market prices around $3,800, Ethereum could be eyeing a potential short-term gain of 10% gain but not without an initial correction and significant levels of long and short liquidations. Related Reading Binance Maintains Dominance In Bitcoin Futures Market; Records $1.88-T In Trading Volume 1 day ago ETH Treasuries Close October With 550k Netflow Despite Offloading Fears

In other news, Ethereum treasury companies continue to display a strong market confidence despite fears of a possible sale amid the heavy price volatility seen in the last month.  According to data from CoinMarketCap, Ethereum prices fell by 13.34% in the past month as the broader crypto market struggled amid various macro influences. 

Despite this negative performance, blockchain analytics firm Sentora reports that ETH treasuries registered a net inflow of 550,000 ETH. Although this figure falls well below the 1.5 million ETH inflows observed in August, it remains significant, underscoring investors’ continued confidence in Ethereum’s long-term value proposition.

At press time, Ethereum trades at $3,873, reflecting a minor 0.44% gain in the past 24 hours. Meanwhile, the daily trading volume is down by 53.83% and valued at $17.57 billion. ETH trading at $3,874 on the daily chart | Source: ETHUSDT chart on Tradingview.com  Featured image from iStock, chart from Tradingview