💥 Ethereum Faces \$4,800 Resistance — Could a Pullback Follow?
Ethereum starts the new week after reaching its highest levels since 2021. Spot ETH ETFs, which had driven billions in inflows, saw their first daily outflow in over a week. Meanwhile, order-book data highlights a substantial sell wall at \$4,800, which could trigger a sharp surge if broken.
Optimism for Ethereum eased late last week. On August 15, US-based Spot ETH ETFs recorded net withdrawals of \$59.34 million, ending an eight-day streak of \$3.7 billion in inflows. Ethereum failed to surpass \$4,788, just 3% below its all-time high of \$4,878, and pulled back to \$4,450. BlackRock’s ETHA ETF saw \$338.09 million in inflows, while Grayscale’s ETHE and Fidelity’s FETH experienced outflows of \$101.74 million and \$272.23 million, respectively.
On-chain data indicates a heavy concentration of liquidity near \$4,800. Analyst Merlijn The Trader referred to this level as Ethereum’s “final boss,” citing billions in sell orders on Binance’s ETH/USDT pair. The liquidity heatmap confirms high demand in this zone. A breakthrough above \$4,800 could drive further gains, but until then, upward movement may face resistance.
While the liquidity setup points to a potential bullish breakout, TradingView analysis takes a more cautious approach. The 4-hour candlestick chart shows signs of exhaustion after Ethereum’s rise from around \$4,700 to \$4,800 in early August—a zone loaded with supply.
Technical indicators including Break of Structure signals, fair value gaps (FVG), and Fibonacci retracements suggest a possible retracement. According to the trading plan, entry is around \$4,440, stop loss above \$4,790, with a downside target near \$3,375, indicating a potential 20% pullback if the bearish scenario unfolds.
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