Ethereum (ETH) shows moderate stabilization after the pullback from the recent high of $3,365 to the local low of $2,865. The price remains in a consolidation phase, operating below the 100-hour simple moving average and without a clear recovery of the short-term bullish momentum.
From a technical perspective, ETH managed to break a compression structure on the hourly chart by surpassing the $2,950 zone. However, the movement lacked continuity, and the price returned to below $3,040, reflecting limited demand absorption at higher levels.
The area of $3,050–$3,150 is configured as the main immediate supply block. In particular, the level of $3,110 —corresponding to the 50% Fibonacci retracement of the last corrective leg— acts as a key reference to assess whether the recovery has structural capacity or if it is merely a technical bounce.
A sustained recovery above $3,150, ideally validated in higher time frame closes, would open the scenario for an extension towards $3,220–$3,300, where relevant previous resistances are concentrated.
On the contrary, as long as ETH remains below that area, the bias remains neutral to corrective. On the downside, immediate support is located at $2,880–$2,900. A clear loss of this range would increase the probability of a return towards $2,820 and subsequently $2,750, a level that would serve as a reference for invalidating the bullish structure in the short and medium term.
Key levels to monitor
Structural support: $2,880 / $2,750
Main resistance: $3,050–$3,150
Until Ethereum does not reclaim higher levels with confirmation, the market remains in a waiting environment, with a predominance of risk management over directional expansion.
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