ETH Faces $3,400 Rejection With Major Support Walls

Ethereum faces critical price movement as major support zones with over 6 million tokens accumulated could determine the next rally or dump toward $2,800.

The second-largest cryptocurrency encountered sharp rejection at the $3,400 resistance level, triggering concerns about near-term price action. According to TedPillows on X, Ethereum is now heading downward with traders watching the $3,000-$3,100 zone as the next critical battleground.

Market participants remain divided as the digital asset tests important technical levels. The rejection from $3,400 has sparked debate about whether bulls can defend lower support zones or if bears will push prices significantly lower. 6.4 Million Tokens Stacked at Two Critical Levels

According to alicharts on X, two major support walls have formed for Ethereum. The first sits at $3,150 with 2.8 million tokens accumulated. The second, even stronger wall exists at $2,800 with 3.6 million tokens stacked.

These accumulation zones represent significant buying interest from market participants. The concentration of tokens at these levels suggests large holders are positioned to defend against further downside.

TedPillows noted on X that a bounceback from the $3,000-$3,100 support zone will result in another strong rally. However, failure to hold this critical area will dump ETH toward the $2,800 zone where the larger support wall awaits.

The technical setup creates a clear roadmap for traders. Bulls need to defend $3,000-$3,100 to maintain upward momentum. Bears targeting $2,800 must break through substantial accumulated positions.

BlackRock Leads $57.6M Daily ETF Inflow

Institutional interest continues flowing into Ethereum despite price weakness. TedPillows reported on X that ETH ETF inflow reached $57,600,000 yesterday with BlackRock purchasing $56,500,000 in Ethereum.

The massive institutional buying demonstrates continued confidence in the asset. BlackRock's dominant position in ETF flows signals strong institutional appetite even during volatile price action.

Order flow analysis from acethebullly on X reveals ETH liquidity is stacked heavily below price, especially between the $3,300-$3,320 zone. This concentration shows strong passive buy support that has repeatedly absorbed sell pressure.

Large market orders show aggressive two-way activity with big red and green bubbles indicating intense trading. Buyers consistently stepped in at lower liquidity bands, preventing deeper breakdowns from materializing.

The overhead liquidity picture appears lighter with thinner sell walls, suggesting less resistance on any push higher. Order flow leans mildly bullish as long as price continues holding above the dense liquidity shelf.

Market structure indicates buyers keep absorbing sells at critical levels. The combination of strong ETF inflows and stacked liquidity below price creates conditions for potential upside if support zones hold.

Technical indicators point to a decisive moment for Ethereum. The asset trades in a critical range where either scenario could unfold rapidly. Bulls defending $3,000-$3,100 opens the door for another rally attempt toward $3,400 and beyond.

Bears breaking below $3,100 would target the $2,800 support wall where 3.6 million tokens await. That level represents the last major defense before deeper correction risk emerges.

Key Takeaways:

Ethereum rejected at $3,400 resistance with two major support walls at $3,150 and $2,800 holding 6.4M tokens
BlackRock led $57.6M daily ETF inflow purchasing $56.5M in Ethereum showing institutional confidence
Order flow shows heavy liquidity stacked below price with buyers absorbing sells at critical support levels

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ETH Faces $3,400 Rejection: Two Massive Support Walls Hold Key

BlackRock Leads $57.6M Daily ETF Inflow

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