Ethereum Price Analysis: Danger Still Looms Unless ETH Decisively Reclaims This Level

ETH continues to consolidate around the key resistance level at $3k. Despite several short-term attempts to move higher, the broader trend remains fragile. While the recent rebound provides near-term momentum, confirmation of a sustained bullish reversal is still lacking.

Ethereum Price Analysis: The Daily Chart

On the daily time frame, ETH trades within a broad consolidation zone between $2.7k and $3.5k. The price is testing the lower resistance band near $3k after a period of sideways recovery. However, the 100- and 200-day moving averages act as dynamic resistance around $3.5k, compressing any bullish momentum.

Unless ETH regains the $3.5k range, it remains vulnerable to rejection and pullback to the mid-range or even the $2.7k demand zone. The RSI is also recovering, but is still not oversold, indicating that there is still some room to grow for ETH in the near term.

ETH/USDT 4-hour chart

The 4-hour chart shows that ETH has tapped into a bearish order block around $3.1k, where sellers previously intervened. This level has triggered another rejection, with the price pulling back slightly after a clear move upward.

The structure is still bullish in the short term, forming higher lows since mid-December, but this zone needs to be broken for further upside continuation. If rejected again, we could see a move back towards the $2.8k support area. The RSI also shows overbought conditions, indicating potential near-term weakness.

Sentiment analysis

Ethereum’s open interest is rising again after a steep multi-month decline, indicating new long positions are being added. This reflects some renewed optimism in the derivatives markets, but the price did not follow with the same strength.

It indicates that traders may be initiating a recovery, but if ETH fails to break through key resistance, these positions are at risk of going bust. Caution is still advised as long as the market has no confirmation and fundamentals remain unchanged.