Ethereum is currently trading at approximately $4,202, maintaining its support level at $4,120 despite facing resistance at the $4,262 EMA. The market is experiencing selling pressure following BlackRock's sale of $205 million in Ethereum. Additionally, exchange outflows reached $35.8 million on September 30. A significant cluster of over $10 billion in short positions is positioned above $4,359, indicating a potential risk of a liquidation-driven squeeze that could propel prices toward $4,600.