$ETH is at a pivotal juncture on the daily chart, consolidating after a rejection from the critical $3,680** resistance level. This zone represents the last major swing high before a new bullish phase can be confirmed. Failure to break above has led to a test of immediate support near **$3,520.
Key indicators are giving mixed signals. The RSI is cooling off from overbought territory, suggesting a healthy pullback or a period of consolidation to gather momentum. The 20-period moving average (~$3,400) is rising, providing a strong dynamic support level. Volume has been declining during this pullback, which can indicate a lack of strong selling pressure and a potential for the uptrend to resume if buyers step in.
For the next 24 hours, the primary scenario is range-bound action between $3,520 and $3,680. A decisive 4-hour close above $3,680** with rising volume would be a strong bullish signal, opening the path towards **$3,800. Conversely, a break and sustained hold below $3,520** could see ETH retreat to test the **$3,400 support confluence, where we would expect stronger buyer defense.
Outlook: Neutral-bullish while above $3,520. The bias remains upward within the broader structure, but a clear resolution of this tight range is needed for the next directional move.
Key Levels:
· Resistance: $3,680, $3,800
· Support: $3,520, $3,400
· Bias: Range-bound until a breakout.
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