Recently, Ethereum has garnered considerable attention in the crypto sphere as a whale made a $63M short bet, targeting the altcoin’s price resistance between $3,200 and $3,400. The market is alive with speculation about the next move, considering whether ETH can exceed the previously discussed level. Traders are certainly anxious, keeping a watchful eye on Ethereum’s upcoming actions. Thus, the question emerges – Will Ethereum’s price manage to reclaim the $3,200-$3,400 resistance zone, or will it face challenges in maintaining its momentum? A significant Ethereum whale has taken a daring step by shorting $63 million worth of ETH with 3x leverage. If Ethereum manages to breach the resistance zone, the whale may face significant losses, with a liquidation price set at $4,545.
However, this wager might be viewed as a tactical decision, expecting that the market will shift from the high levels. Historically, Ethereum has shown strong performances in Q1 after a decline in Q4. As we approach 2026, Ethereum’s price seems to suggest that it could follow this pattern again. Traders are hopeful that the cryptocurrency will see a surge in Q1, driven by the market’s anticipation of a positive turnaround. Even if Ethereum faces challenges in breaking through the $3,400 barrier, the first quarter might still offer opportunities for optimistic investors, especially if interest spiked close to the altcoin’s lower support levels.
Currently, Ethereum’s liquidity heatmap shows significant clusters around the $3,000 support level – indicating that a test of this area might be approaching if the $3,200-$3,400 resistance holds firm. In the past, significant leveraged positions in this sector have led to rapid price changes. Ethereum’s price chart has shown a significant resistance area between $3,200 and $3,400, with the RSI at 70.60, indicating that the asset is presently in overbought conditions. The MACD showed a decrease in bullish momentum, leading to concerns that the altcoin could have difficulty breaking through this level.
If Ethereum cannot break through this barrier, a drop to $3,000 may be imminent – a level where liquidity could trigger a notable price movement. Ethereum faces significant resistance in the $3,200-$3,400 range, with technical indicators pointing towards a potential price pullback in the near future. The 3,000-support zone, backed by liquidity clusters, may turn into the next crucial battleground if resistance holds firm.