Major Trendline Lost And Liquidity Targets Shift Toward $3,000

• Ethereum breaks below its multi-month ascending trendline and falls under the 20, 50 and 100-day EMAs.
• Coinglass data shows $154.2M in outflows, signaling active distribution and weak buyer defense.
• Liquidity heatmaps show price magnet near $3,000–$2,800, forming the next major downside target.

Ethereum price today trades near $3,325 after losing its multi month trendline and slipping below the 20, 50 and 100 day moving averages. The breakdown shifted momentum to sellers and opened the door toward the high liquidity zone around $3,000 to $2,800, an area highlighted by market structure, historical demand, and recent liquidity heatmaps.

Buyers Step Back As Spot Outflows Rise

Spot flow data from Coinglass reveals why the decline accelerated. On November 5, Ethereum recorded $154.2 million in net outflows, signaling active distribution as tokens moved from wallets to exchanges. Outflows of this size typically indicate profit taking or preparation for selling, not accumulation.

Looking at the broader flows over the last month, red bars dominate the netflow heatmap. This means exchanges have repeatedly received more ETH than they have sent out, a persistent trend that historically aligns with short term price weakness.

When flows turn positive and inflows shift to withdrawals, traders gain confidence that accumulation is underway. For now, there is no such evidence. The data confirms that holders are not stepping in to defend the recent breakdown.

Trendline Break Signals Short Term Weakness

The daily chart shows Ethereum has broken below a major ascending trendline that has guided price since May. For five months, every dip toward this trendline produced a reaction and higher low. Losing this structure signals that the trend has shifted from controlled pullbacks to a full breakdown.

The breakdown forced price under the 20, 50 and 100 day EMAs in a single move. These moving averages now sit directly overhead, creating a ceiling around $3,600 to $3,900. Sellers have rejected every attempt to push into this zone, and until price closes above these moving averages, the structure remains bearish.

Liquidity Zones Show Clear Downside Targets

A liquidity map shared by market analyst Ted (@TedPillows) shows a major liquidity cluster resting below the current price. According to the chart, the strongest liquidity concentration sits between $2,800 and $3,000. Liquidity typically attracts price like a magnet, especially after a breakdown.

On the upside, the next major liquidity pocket starts above $4,000. For price to reach that area, Ethereum would need a decisive reclaim of the current EMA ceiling. That requires volume and strong flows, neither of which are present right now.

The market is showing a classic behavior seen in range breakdowns. Liquidity below gets swept first, then price forms a base before any sustained reversal.

Intraday Chart Shows Rejection At VWAP And Weak RSI Momentum

On the 30 minute chart, Ethereum attempted a relief bounce after the sharp selloff, but price could not reclaim the session VWAP. VWAP is currently acting as a dynamic ceiling, and every attempt to trade above it has been rejected. When price remains below VWAP, it signals that intraday positioning favors sellers and that the average buyer is underwater.

The bounce off the $3,175 wick shows demand at lower levels, but the recovery lacks conviction. Price is struggling to stay above short term support levels and continues to pull back each time it approaches the VWAP line. 

The RSI reinforces this weakness. After briefly recovering from oversold territory, RSI topped near the midpoint band and failed to sustain above 50. In downtrends, RSI failing at the midline is a classic sign that rallies are corrective, not trend reversals. Until RSI breaks convincingly into the upper half of the range, momentum stays with sellers.

Outlook. Will Ethereum Go Up?

Ethereum sits at a critical turning point. The loss of the year long trendline and persistent outflows warn that price may need to sweep the $3,000 to $2,800 liquidity pocket before any sustained rally can begin.

• Bullish case: If Ethereum reclaims $3,600 to $3,900 and closes above the moving average cluster, the trend resumes toward $4,000 and potentially higher liquidity levels.
• Bearish case: Failure to clear resistance keeps the structure heavy. Losing $3,000 unlocks deeper downside toward $2,800.