The ethereum price prediction todaysecond-largest cryptocurrency by market cap has shown remarkable resilience in recent trading sessions, establishing a strong foothold above critical support levels.
ETH successfully reclaimed the $3,240 support zone, signaling renewed buyer interest.
Current trading activity remains comfortably above both the $3,300 psychological level and the 100-hour moving average.
A significant technical development occurred with the breach of a descending trendline at $3,320 on ETH/USD charts.
The next crucial test for bulls appears at the $3,400 resistance barrier.
Technical Landscape Shows Bullish Signals
Following its recovery from recent lows, Ethereum has demonstrated stronger relative performance against many altcoins while still trailing Bitcoin's momentum. The digital asset successfully overcame successive resistance points at $3,300 and $3,320, entering what technical analysts describe as a short-term bullish phase.
The upward trajectory gained additional steam as ETH surged past $3,350 and briefly tested the $3,480 region before encountering profit-taking activity. This created a local peak at $3,473, followed by a modest retracement that found support above the 23.6% Fibonacci retracement level.
Current price action shows Ethereum consolidating its position above $3,280 while maintaining its position north of the 100-hour simple moving average. The recent breakout above the $3,320 trendline resistance adds further credibility to the bullish case.
Key Levels to Watch
Market participants are closely monitoring the $3,400 level as the immediate resistance hurdle. Beyond this, significant selling pressure may emerge near $3,420, with the ultimate test for continuation appearing at the $3,480 swing high.
A decisive close above $3,480 could open the door for a test of the $3,550 resistance zone. Sustained buying pressure in such a scenario might propel ETH toward the $3,650-$3,720 range in subsequent trading sessions.
Potential Downside Scenarios
Should Ethereum fail to conquer the $3,400 resistance, traders should prepare for possible consolidation or retracement. Initial support rests at $3,280, followed by more substantial buying interest near $3,200 (the 50% Fibonacci retracement level).
Violation of the $3,200 support could trigger a deeper correction toward $3,120, with the $3,050 and $3,000 levels representing critical psychological support zones that have historically attracted buyer interest.
Technical Indicators Overview
The hourly MACD indicator continues to show strengthening bullish momentum, while the RSI maintains its position above the neutral 50 level, suggesting favorable conditions for continuation of the current uptrend.
Critical Support: $3,280
Major Resistance: $3,400
