Technical analysis by coinpediamarkets about Symbol ETH on 11/20/2025

Pattern: Break of Structure + Retracement Into Major Supply Zone + Short Continuation Setup The chart shows Ethereum forming a clean bearish structure with repeated Breaks of Structure (BOS) as sellers continue dominating the 4H timeframe. Price is currently pulling back toward a major supply zone, where strong institutional selling previously stepped in. This retracement is likely setting up a continuation to the downside. Key Observations 🔹 Confirmed Bearish Structure: ETH has printed multiple BOS levels, signaling that sellers remain firmly in control. 🔹 Major Supply Zone ($3,170–$3,143): A strong supply block highlighted on the chart. This is where ETH previously saw heavy sell pressure, creating an ideal zone for a bearish retest. 🔹 Retracement Before Rejection: Price is currently climbing toward the supply zone, following the dotted bullish retracement path shown. 🔹 Liquidity Grab Potential: The dotted move into supply suggests ETH may sweep short-term liquidity before reversing down. 🔹 Precise Downside Targets: The chart clearly marks two realistic take-profit levels after supply rejection: 🎯 Target 1: $3,056.57 🎯 Target 2: $2,993.69 From there, the dotted path continues lower toward a deeper liquidity zone near the recent low: Extended Target Zone: $2,900 → $2,887 → $2,873 (recent major low) 🔹 Strong Reaction From $2,873 Low: ETH bounced from $2,873, but the bounce lacks structural strength and remains corrective unless it reclaims the supply zone. Potential Move If ETH taps the supply zone ($3,170–$3,143) and shows rejection: 🎯 Target 1: $3,056.57 🎯 Target 2: $2,993.69 🎯 Extended Target: $2,900 → $2,887 → $2,873 liquidity zone A confirmed 4H close above $3,170 would weaken the bearish continuation setup and signal a deeper retracement instead of continuation. Summary Ethereum is retracing into a major 4H supply zone after multiple bearish structure breaks. The current bounce appears corrective, setting up a potential short entry around $3,170–$3,143. If sellers defend this zone, ETH is likely to continue lower toward $3,056, $2,993, and potentially back into the low-$2,900s. A clean break above $3,170 would invalidate the bearish setup.