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.<\/p>\n
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.<\/p>\n
![\"Ethereum\"](\"https:\/\/pbs.twimg.com\/media\/G4rzXo1bQAUugaQ?format=jpg&name=large\")
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\u2013$4,200 resistance region once more.<\/p>\n
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.\n<\/p>\n
ETH Treasuries Close October With 550k Netflow Despite Offloading Fears<\/b><\/h2>\n
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.\u00a0According to data from CoinMarketCap, Ethereum prices fell by 13.34% in the past month as the broader crypto market struggled amid various macro influences.\u00a0<\/p>\n