Ethereum (ETH) is approaching a major monthly demand zone with liquidity building below, indicating a potential upcoming move.
There is a supply zone on the H4 timeframe that could act as a short-term rejection point before a possible drop in price.
Scenarios suggest a downward movement before any significant bullish continuation, emphasizing the uncertainty in the market.
While the situation indicates a potential drop, nothing is certain as asset movements can always vary. Patience and caution are advised in this volatile market.