While fear is spreading across the market and many traders are calling the end of ETH’s momentum, Ethereum is slowly grinding toward one of its most important resistance levels on the daily chart. As of Monday’s session, ETH is up nearly 2%, but price is still struggling beneath the descending resistance trendline drawn from the October 7 and October 27 highs.

In the bullish scenario, a clean daily close above last Thursday’s high at $3,240 would act as a technical breakout confirmation, potentially unlocking the next major upside target at the 200-day EMA near $3,459.

Momentum Is Recovering — But Not Confirmed Yet

Just like Bitcoin, Ethereum is showing early signs of strength:

RSI has climbed back to around 49, approaching the neutral 50 zone.

➝ A sustained move above RSI 50 would confirm bullish momentum.

MACD remains stable and continues to drift upward toward the zero line, signaling that downside pressure is fading and upside momentum is rebuilding.

However, this is still a recovery phase, not a fully confirmed uptrend yet.

⚠️ Downside Risk Still Looms

Despite improving indicators, the risk of rejection remains real. If ETH fails at resistance and price breaks back below the $3,000 psychological level, selling pressure could accelerate and drag Ethereum down toward the November 21 low near $2,623.

This level remains the critical bearish target if bulls lose control.

✅ Ethereum Trading Plan (High-Probability Setup)

🔵 Buy Setup (Breakout Strategy)

Entry: $3,260 – $3,300 (confirmed daily close above $3,240)

Take Profit 1: $3,460 (EMA 200)

Take Profit 2: $3,650

Stop Loss: $3,050

🔴 Sell Setup (Rejection Strategy)

Entry: $3,180 – $3,240 (clear rejection at trendline resistance)

Take Profit 1: $3,000

Take Profit 2: $2,630 (Nov 21 low)

Stop Loss: $3,380

Final Verdict

Ethereum is sitting right below a major structural ceiling.

A breakout could trigger a sharp upside expansion, while a rejection could reset the entire recovery.

The next real trend for ETH will not be decided by headlines —

It will be decided at $3,240 and $3,000.

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