Ethereum Rebounds 10% as Bullish RSI Divergence Returns — Can ETH Break $3,470?
Ethereum (ETH) $ETH
has rebounded over 10% since hitting its December low on December 18, reclaiming the $3,000 level. The move is driven by a renewed bullish RSI divergence, a technical pattern that previously triggered a 27% rally earlier this quarter.
Momentum is further supported by on-chain data, as ETH $ETH spent coins activity dropped by more than 92%, signaling a sharp decline in selling pressure. Long-term holders appear less willing to distribute, while short-term traders remain relatively inactive.
However, the rally still faces a critical test. The $3,470 resistance zone remains the key barrier. Failure to break above this level could lead to a repeat of history, where bullish divergence rallies stall and reverse.
As long as ETH holds above $3,040, the rebound remains intact. A confirmed daily close above $3,470 would open the door toward $3,660 and $3,910, while downside risk increases if price falls below $2,940. $ETH
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