Analysis Overview

Based on the 15m TradingView chart and Bookmap data provided:

Key Observations:

1. Price Consolidation Around $3,890:

On TradingView: ETHUSD shows a slight upward recovery, stabilizing near $3,890, after a bounce from support around $3,869.

Bookmap: Significant buy walls and liquidity clusters appear around $3,880–$3,900**.

2. Momentum Indicators:

RSI (Relative Strength Index):

Currently 88.16 on the 15m timeframe, signaling overbought conditions. This suggests that ETH could face short-term resistance.

HCCCO_LB (Volatility and momentum):

A rising trend suggests increasing buying momentum, but the high reading hints at potential exhaustion if not supported by higher volume.

3. Liquidity and Order Flow (Bookmap):

Strong sell-side liquidity is visible between $3,920–$3,940, meaning sellers are waiting to offload at higher prices.

Below the current price, support clusters exist near $3,869 and $3,850. A break below this level could trigger stops.

---

Direction and Likely Target

1. Short-Term (Next Few Hours):

Likely to test resistance at $3,900–$3,920.

If momentum remains strong, it could attempt to push towards $3,940.

Risk: Overbought conditions could lead to minor pullbacks to $3,850–$3,870.

2. Medium-Term (Next 12–24 Hours):

A break above $3,920 could open the path to $3,950–$4,000.

If buying momentum weakens, $3,820–$3,850 will act as support.

---

Recommendation:

Short-term strategy: Monitor the $3,900–$3,920 zone carefully for signs of rejection.

Entry for Long: If price retraces to $3,860–$3,870 with volume support.

Take Profit: Around $3,940 or higher if momentum allows.

Stop Loss: Below $3,850.

If ETH breaks below $3,850, wait to see whether $3,820 holds as support.

---

Key Levels to Watch:

Support: $3,850, $3,820

Resistance: $3,900, $3,920, $3,940