On the 4-hour Ethereum chart, price has entered a key demand zone around 2750–2800 USD after a sharp decline, and the initial bullish reaction suggests that this area is still acting as a valid support. However, the overall market structure has not fully shifted to bullish yet, and the current move looks more like a corrective phase within a broader mid-term bearish structure. A likely scenario is a liquidity sweep below the current support, potentially pushing price toward the deeper 2550–2600 USD zone to absorb resting sell orders before smart money steps in.
If this scenario plays out, a strong bullish reversal could follow, with the first upside target around 3000 USD, and the next major target being the higher supply zone between 3400–3600 USD. Therefore, as long as price fails to firmly hold above the current demand zone, rushing into long positions is not optimal; the more prudent approach is to wait for clear price-action confirmation after the liquidity-grabbing phase is completed.
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