ETH Technical Outlook: Relief Bounce Forms but Key Resistance Still Blocking Upside
Ethereum is attempting a short-term recovery after bouncing from the $2,750–$2,850 demand zone, where buyers have shown consistent interest. This area has once again acted as a crucial support, preventing further downside toward the Fib 0 level at $2,623.
However, despite the bounce, ETH still faces significant overhead pressure, as price remains below all major EMAs:
20 EMA: $3,069
50 EMA: $3,346
100 EMA: $3,548
200 EMA: $3,471
These EMAs are stacked above the price and continue to act as dynamic resistance, confirming that the broader trend remains bearish.
ETH is currently struggling at the 0.236 Fib level ($3,173), failing to close decisively above it. This level has become the first short-term barrier for any bullish breakout attempt.
Key Resistance Levels
ETH must break these levels to begin shifting trend momentum:
$3,173 (0.236 Fib) — immediate resistance
$3,514 (0.382 Fib)
$3,790 (0.5 Fib) — major structural level
$4,065 (0.618 Fib) — strong resistance that previously rejected price
$4,457 (0.786 Fib) — if reclaimed, signals a true bullish reversal
Until ETH breaks and closes above $3,514–$3,790, the bearish structure remains valid.
Key Support Levels
If ETH loses current demand again, downside levels to monitor:
$2,850–$2,750 (strong demand zone)
$2,623 (Fib 0 level) — major downside target
Below $2,623, price risks entering a deeper correction phase
RSI
46.02 — showing slight improvement
Still below 50, meaning bullish momentum is not yet dominant
Market remains neutral-bearish
📌 Summary
ETH is forming a relief bounce from a strong support zone, but the overall trend remains bearish while price trades below multiple EMAs and the $3,173–$3,514 resistance cluster.
For bullish momentum to return:
ETH must reclaim $3,173 → $3,514 → $3,790 → $4,065.
Failure to hold the current support area could push ETH back toward $2,623.
