Ethereum (ETH) Technical Outlook – Strong Bounce From Support, But Key Resistance Ahead

Ethereum has shown a strong rebound after testing the major support area around $2,620–$2,700, a zone that has repeatedly acted as a demand region throughout the past months. This bounce helped ETH reclaim the 0.236 Fibonacci level at $3,173, signaling early signs of recovery.

However, ETH is now approaching a critical resistance cluster, where the price is facing multiple obstacles:

0.382 Fib at $3,514

100 EMA at $3,516

200 EMA at $3,457

50 EMA at $3,315

These EMAs are currently positioned above the price and sloping downward, indicating that the broader trend is still under bearish pressure.

To confirm a stronger bullish continuation, ETH must break and close above the $3,514–$3,520 zone, where the 0.382 Fib and 100 EMA converge. A successful breakout above this level would open the door to higher targets:

$3,790 (0.5 Fib)

$4,065 (0.618 Fib)

$4,457 (0.786 Fib)

$4,956 (1.0 Fib – previous major high)

On the downside, as long as ETH holds above the $2,620 support, the current rebound remains valid. Losing this zone would put ETH at risk of revisiting deeper support levels and potentially restarting a broader downtrend.

RSI is currently around 58, reflecting improved bullish momentum after climbing from oversold territory.

📊 Key Levels

Resistance

$3,173 (0.236 Fib – reclaimed)

$3,315 (50 EMA)

$3,457 (200 EMA)

$3,516 (100 EMA)

$3,514–$3,520 (major resistance zone / 0.382 Fib)

$3,790 (0.5 Fib)

$4,065 (0.618 Fib)

$4,457 (0.786 Fib)

Support

$2,620–$2,700 major demand zone

Local higher-low structure support

RSI

58.14 → Strengthening momentum; bullish bias increasing.

📌 Summary

ETH has bounced strongly from a key support zone and reclaimed the 0.236 Fib level. However, a true trend reversal depends on a decisive breakout above $3,514–$3,520, where major resistance is clustered. Until that level is cleared, ETH remains in a recovery phase inside a broader bearish structure.