ETH Faces Critical Resistance as Recovery Attempts to Gain Traction Above Key Technical Levels

Ethereum (ETH) is currently trading at $2.95K, down 1.12% over the last 24 hours, after encountering significant selling pressure from elevated resistance zones. The path forward hinges on whether bulls can reclaim strength and push through the crucial $3,200–$3,350 barrier that has repeatedly stalled upside momentum.

Current Market Structure: Building a Case for Recovery

After testing lower levels, ETH is now consolidating around the $2.95K mark. The question for traders isn’t whether Ethereum can hold ground here — it’s whether the bounce structure is genuine enough to set up a meaningful advance. Price action suggests that the recent downturn hasn’t completely erased buyer interest, but conviction remains fragile.

The technical setup is mixed. On the hourly timeframe, momentum indicators reveal a cautious tone: the Relative Strength Index (RSI) is hovering around midline levels, suggesting neither excessive selling nor confident buying. The Moving Average Convergence Divergence (MACD) shows weakening momentum, which aligns with the recent selloff but hasn’t yet flipped decisively bearish.

The Road Ahead: Resistance Levels That Matter

Near-term friction points start at $3,150. This is where ETH attempted a rebound in the previous cycle, and it remains psychologically significant. If bulls can orchestrate a push through this level cleanly, the next test sits at $3,200, followed by the more formidable $3,320–$3,350 cluster.

The $3,350 level is particularly important — it’s not just another price point, it’s a potential inflection. A decisive break above $3,350 could reopen the path toward $3,400 and $3,450. If momentum accelerates further, $3,500 moves into play as a medium-term extension target.

What Could Derail the Upside Attempt?

The bearish case remains lurking. If buyers fail to defend the $3,150 support area on the next test, selling could accelerate toward $3,050–$3,020. Below that, the $3,000 psychological level represents a key floor; a sustained break would signal that the broader recovery attempt is losing steam.

Given Ethereum’s current valuation at $2.95K, the distance to recovery is meaningful. That’s precisely why confirmation of buyer strength at each resistance level will be essential. Weak bounces without follow-through volume suggest accumulation isn’t yet convincing.

Technical Indicators: What They’re Telling Us

The 100-hour Simple Moving Average has been a battlefield recently. When ETH trades above it, structure tilts bullish intraday; below it, sellers maintain control. Watch this moving average as a short-term guide — it essentially marks the daily sentiment shift point.

Fibonacci retracement levels also matter. The 50% retracement of any larger swing often reveals whether a move had conviction or was just a technical bounce. Recent price action suggests buyers are testing commitment at these key areas, but hesitation remains.

The Bottom Line

Ethereum is at an inflection point, neither decisively bullish nor bearish. Recovery attempts will fail or succeed based on whether buyers can reclaim the $3,150–$3,350 zone convincingly. Until then, the setup remains “under construction” — promising on a technical basis, but still requiring proof that demand is real.