ETH Technical Outlook: Ethereum Attempts Recovery from Major Demand Zone After Extended Consolidation

Ethereum is in a broader consolidation structure following strong rejection from the macro supply zone of $4,450–$4,950, where price peaked near the 0.786–1.0 Fibonacci levels. This rejection marked a clear distribution phase, concluding the previous bullish impulse and triggering a sharp decline over multiple months.

Once ETH broke below the $4,065–$3,790 zone (0.618–0.5 Fibonacci), selling pressure intensified, transforming this zone into strong resistance and confirming a bearish structural shift.

EMA Structure (Bearish with Early Rebound Signs)

20 EMA – $3,064
50 EMA – $3,128
100 EMA – $3,309
200 EMA – $3,353

ETH remains trading below the 100 and 200 EMAs, maintaining a broader bearish trend. However, price has reclaimed the 20 and 50 EMAs, showing short-term strength and rebound momentum. The $3,300–$3,350 zone remains a critical dynamic resistance area.

Fibonacci and Price Structure

1.0 Fibonacci: $4,956
0.786 Fibonacci: $4,456
0.618 Fibonacci: $4,065
0.5 Fibonacci: $3,789
0.382 Fibonacci: $3,514
0.236 Fibonacci: $3,174
0 Fibonacci: $2,623

ETH is consolidating above the $2,600–$2,750 major demand zone, which aligns with the 0 Fibonacci level, showing strong buying interest. Recent price action displays higher lows, suggesting increased probability of bottom formation and rebound.

Sustained breakout above $3,175 (0.236 Fibonacci) would open upside space toward $3,500–$3,790, where overlapping Fibonacci and EMA resistance exists. A structural shift requires acceptance above $3,790 (0.5 Fibonacci).

RSI Momentum

RSI (14): 68

RSI has entered bullish momentum territory, indicating strong buying pressure in the short term. While this supports further upside, RSI also suggests ETH is approaching local resistance conditions, potentially leading to consolidation near resistance zones.

Key Levels

Resistance Levels
$3,175 (0.236 Fibonacci)
$3,300–$3,350 (100 & 200 EMA)
$3,514 (0.382 Fibonacci)
$3,789 (0.5 Fibonacci)

Support Levels
$2,950–$3,050 (Short-term Support)
$2,623 (0 Fibonacci / Major Demand)
$2,400 (Extended Downside Support)

Summary

ETH shows early rebound signs after defending a major long-term demand zone. While short-term momentum has turned bullish, the overall structure remains consolidation unless Ethereum can convincingly reclaim the $3,500–$3,790 resistance zone. Failure to hold above $2,950–$2,620 would expose ETH to downside pressure.