ETH Technical Outlook: Attempting Range Expansion within a Broader Correction Structure

ETH remains in a broader correction phase, having previously encountered strong rejection at the macro resistance zone of $4,450–$4,950, which aligns with the 0.786–1.0 Fibonacci retracement levels. This rejection confirmed a macro distribution high point, leading to a sharp bearish shock and subsequent consolidation.
Recent price action shows ETH stabilizing above the key demand zone of $3,050–$3,150, attempting an orderly rebound and upward breakout of resistance levels. Although momentum has improved, the trend on higher timeframes has not yet fully reversed.
EMA Structure ( Bearish bias, short-term stabilization )
20 EMA: $3,131
50 EMA: $3,141
100 EMA: $3,289
200 EMA: $3,339
ETH is currently trading near the 20 and 50 EMAs, indicating short-term balance and an early attempt at a rebound. However, the price remains below the 100 and 200 EMAs, maintaining a medium- to long-term bearish bias.
The $3,280–$3,350 zone represents a major dynamic resistance cluster, and the trend’s continuation will be determined by this level.
Fibonacci and Price Structure
1 Fibonacci: $4,956
0.786 Fibonacci: $4,456
0.618 Fibonacci: $4,065
0.5 Fibonacci: $3,790
0.382 Fibonacci: $3,514
0.236 Fibonacci: $3,174
Fibonacci 0: $2,623
ETH is currently consolidating around the 0.236 Fibonacci ($3,174), serving as a key pivot zone. If it can sustain above this level, the price may test the $3,514–$3,790 region, where Fibonacci resistance converges with EMA.
Failure to hold above $3,130–$3,050 will weaken the rebound structure and increase the likelihood of retesting the macro demand zone of $2,880–$2,620.
Structural Background
Price action shows ETH forming higher lows and higher highs since the December lows last year, indicating early accumulation behavior. However, ETH remains below the broader resistance zone, and the current rebound is classified as a corrective bounce rather than a confirmed trend reversal.
A strong close above $3,350–$3,500 would help shift the market structure toward a bullish continuation.
RSI Momentum
RSI (14): 66
The RSI has firmly remained above the neutral level, reflecting strong momentum improvement and increased buying participation. However, RSI is approaching the upper neutral zone, suggesting possible consolidation near resistance before continuing higher.
📊 Key Levels
Resistance
$3,174 (0.236 Fibonacci)
$3,350 (200 EMA)
$3,514 (0.382 Fibonacci)
$3,790 (0.5 Fibonacci)
Support
$3,130–$3,050 ( Short-term)
$2,880 ( Range support)
$2,620 ( Fibonacci 0 / Macro demand)
📌 Summary
After holding the $3,050 demand zone, ETH is attempting a structural rebound with momentum continuing to improve. However, unless the price convincingly recovers above $3,350–$3,514, the overall structure remains biased toward correction. Until then, ETH may continue to fluctuate within the range, with upward potential facing significant resistance.