ETH Technical Outlook: Ethereum Trading Near Key Demand, Bear Market Structure Persists

Ethereum is still facing persistent selling pressure after failing to reclaim the intermediate Fibonacci resistance level. The price continues to trade within a broader corrective structure, with sellers actively defending key EMA and Fibonacci levels. ETH is now hovering above a major demand zone, making this area crucial for the next directional move.

Market Structure and Trends

ETH has shifted from a bullish continuation to a clear correction phase, marking:

Since being rejected near the upper trend line, the lows have been gradually decreasing.

Breakdown below the Fibonacci level in the middle range.

The price remains below the major index moving averages.

The overall structure remains bearish to neutral, unless ETH reclaims the key resistance zone.

EMA structure ( strong resistance level is above )

The current trading price of Ethereum is below all major moving averages:

20 EMA — 3,028 USD

50 EMA — 3,201 USD

100 EMA — 3,411 USD

200 EMA — 3,409 USD

The range of $3,200–$3,410 has formed a strong resistance cluster. As long as the price remains below this area, upward attempts may face selling pressure.

Fibonacci & Resistance Area

ETH has faced rejection at higher Fibonacci levels multiple times, confirming strong supply:

0.236 Fib — $3,173 ( short-term resistance )

0.382 Fibonacci — 3,514 USD

0.5 Fibonacci — 3,790 USD

0.618 Fibonacci — 4,065 USD

0.786 Fibonacci — 4,457 USD

To shift the structure towards a bullish continuation, a sustained breakout above the $3,514–$3,790 level is required.

Key Support & Demand Zone

ETH is currently consolidating above a major demand zone between $2,750–$2,900, with the key support level at:

$2,623 (Fib 0 level)

This area has historically attracted buyers. A strong hold here may trigger a rebound, while a drop below $2,623 would open the door to deeper declines.

Bullish Recovery Scenario

If buyers enter at the current level, the upward targets include:

$3,173 (0.236 Fib) — First Retracement Level

$3,514 (0.382 Fib) — Trend Stable

$3,790 (0.5 Fib) — Bullish momentum confirmation

$4,065 (0.618 Fib) — Major trend reversal

Only a clean break above $4,065–$4,457 can restore the strong bullish market structure.

Bear Market Continuation Scenario

Failing to maintain the $2,750–$2,623 demand zone may lead to:

Further downside continues

Long-term structural segmentation

Re-testing lower historical support levels

This will confirm that the seller is still firmly in control.

Momentum Indicator ( Relative Strength Index )

RSI (14): ~47

The RSI remains below the neutral level of 50, indicating weak momentum. Although selling pressure has eased, buyers have yet to show strong confidence.

📊 Key Level Summary

Resistance

$3,173

$3,514

$3,790

$4,065

$4,457

Support

$2,900–$2,750

$2,623 ( main demand )

📌 Summary

Ethereum is still in a corrective Bear Market phase, with trading prices below its key EMA cluster and Fibonacci midpoint levels. The price is currently testing a key demand zone, and a short-term rebound is possible. However, for a sustained recovery, ETH needs to break back above $3,200+, while a drop below $2,623 would confirm further downside risks.

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