Ethereum’s price to the moon? Maybe, but traders should be aware of…

Key Points

1. Ethereum's RSI and 95% supply in profit indicate an exhausted market, with profit-taking likely stalling further gains.

2. Derivatives dominate ETH's daily trading volumes, increasing fears of leveraged long positions and the risk of a deep pullback without high spot activity.

3. Key support levels for Ethereum are at $2,850 and $3,750, with the $3,750 region acting as a potential liquidity pocket for a bearish reversal.

4. The liquidation heatmap highlights $3.8k and $4.1k as potential zones for a trend halt or pullback, with $3.5k and $2.8k as significant liquidity pockets to the south.

5. Ethereum has rallied 27.4% over seven consecutive days, but technical indicators do not yet show signs of a reversal.