Ethereum has climbed above $2,950 as buyers attempt to sustain a recovery from recent lows. The move places ETH at a pivotal technical juncture, with the $3,050 resistance zone likely to determine whether the rally extends or loses momentum.
Recovery in Progress
Ethereum rebounded from the $2,775 level, broadly tracking Bitcoin’s recent recovery. The price moved decisively above resistance at $2,850 and $2,880, surpassing the 50% Fibonacci retracement of the decline from $3,175 to $2,775. ETH also broke above a bearish trend line near $2,920 on the hourly chart.
Currently trading above $2,950 and the 100-hour simple moving average, Ethereum has established short-term support above previously contested levels.
Key Levels Ahead
On the upside, ETH faces resistance near $3,020 and the 61.8% Fibonacci retracement, followed by the critical $3,050 zone. A sustained break above $3,080 could open the door to further gains toward $3,150, with extended targets around $3,220–$3,250.
Why It Matters
The $3,050 level represents a decisive technical barrier for Ethereum’s near-term direction. Failure to break higher could lead to a pullback toward $2,950, with additional support at $2,915 and $2,880. A deeper decline may expose the $2,840 and $2,800 levels.
Momentum indicators reflect cautious optimism. The hourly MACD remains in bullish territory but is weakening, while the RSI holds above 50, indicating buyers remain in control, albeit with reduced conviction.#ETH #BinanceAlphaAlert #crypto #BTC
