Ethereum (ETH) Technical Outlook: Rebound From Major Demand, But Bearish Structure Still Intact

ETH has staged a technical rebound after tapping the $2,620–$2,700 major demand zone, which aligns closely with the Fib 0 level at $2,623. This zone has historically acted as strong support, and the reaction confirms the presence of buyers defending this level.

However, despite the bounce, ETH remains under broader bearish control, trading below key Fibonacci retracement levels and beneath a cluster of declining EMAs — signaling that the move is currently corrective rather than a confirmed trend reversal.

EMA Structure (Bearish to Neutral Bias)

20 EMA – $3,063

50 EMA – $3,245

100 EMA – $3,450

200 EMA – $3,428

All major EMAs are positioned above current price and sloping downward, forming a heavy dynamic resistance zone between $3,245–$3,520. This alignment suggests sellers remain active on rallies.

ETH recently reclaimed the 0.236 Fib at $3,174, but failed to sustain momentum above it, indicating hesitation and profit-taking near resistance.

For bulls, the critical breakout zone lies between $3,510–$3,520, where the 0.382 Fib, 100 EMA, and 200 EMA converge. A strong daily close above this region would signal a shift toward trend stabilization.

If ETH successfully clears this zone, upside targets open toward:

$3,790 (0.5 Fib)

$4,065 (0.618 Fib)

$4,457 (0.786 Fib)

$4,956 (1.0 Fib / previous major high)

On the downside, holding above $2,620 keeps the current recovery structure valid. A breakdown below this demand zone would invalidate the bounce and expose ETH to deeper downside toward $2,400–$2,250.

RSI is currently near 37, reflecting weak momentum, but also showing stabilization after recovering from oversold conditions — consistent with a basing phase.

📊 Key Levels

Resistance

$3,174 (0.236 Fib)

$3,245 (50 EMA)

$3,428–$3,450 (200 & 100 EMA cluster)

$3,514–$3,520 (0.382 Fib / major resistance)

$3,790 (0.5 Fib)

$4,065 (0.618 Fib)

$4,457 (0.786 Fib)

Support

$2,820–$2,750 (local support)

$2,620–$2,700 (major demand zone / Fib 0)

$2,400 (extended downside support)

RSI

37.0 — weak momentum, stabilizing after oversold

📌 Summary

ETH has bounced from a key long-term demand zone, but the broader structure remains bearish-to-neutral while price trades below the $3,510–$3,520 resistance cluster. A decisive breakout above this region is required to confirm trend reversal. Failure to hold $2,620 would expose ETH to renewed downside pressure.

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