ETHUSD 4H – Supply Rejection, Eyes on Demand ZoneEthereum / US DollarCOINBASE:ETHUSDFrankFx14Ethereum faced rejection at the red supply zone around $4,600 – $4,650, confirming heavy sell-side pressure near recent highs. The market structure suggests sellers are in control short term, pointing to a potential pullback toward the green demand zone. 🔑 Key Technical Levels Supply Zone (Resistance): $4,600 – $4,650 → Fresh rejection with strong wicks. Major Resistance Above: $4,710 → Breakout level for bulls if reclaimed. Demand Zone (Support): $3,650 – $3,700 → High-probability demand area where buyers last stepped in. 📉 Bearish Outlook Rejection at supply suggests ETH could correct lower. First downside target sits at $4,200 – $4,250 minor supports. Stronger bearish continuation opens the way toward $3,650 demand zone, which aligns with past accumulation. This area could act as the next bullish re-entry point. 📈 Bullish Invalidation A clean breakout and close above $4,650 – $4,710 would flip sentiment bullish again. In that case, ETH could attempt a push toward $4,900 – $5,000 psychological zone. 📊 Market Context ETH has been on a strong bullish run since early August, but multiple rejections near $4,600 show exhaustion. Short-term correction toward demand could provide fresh entries for bulls before the next leg up. ✅ Trading Plan Bearish traders: Look for shorts at/near $4,600 rejection zone with TP at $4,200 and $3,650. Bullish traders: Wait for a dip into demand ($3,650 – $3,700) to consider fresh longs. Risk management: Place stops above $4,710 if trading bearish setups. 📝 Summary ETH is showing weakness after rejection from the $4,600 – $4,650 supply zone. As long as price stays below $4,710, downside targets include $4,200 and $3,650 demand zone. A breakout above $4,710 invalidates this bearish view.