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$ETH trades around $3,040–$3,050, testing key resistance at $3,080 for possible breakout moves.
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Support zones at $2,900–$2,950 and $2,780–$2,820 may hold ETH if price pulls back.
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Higher timeframe shows early recovery, but $2,800 remains critical to keep ETH bullish.
Ethereum traders are closely watching $ETH as it nears $3,080, testing key resistance and possible breakout points, says analyst Lennaert Snyder.
Snyder noted, “I’ll be waiting on a MSB after the liquidity grab above it. If we continue to show strength above $3,080 and get a full 4H reclaim, we can try to catch a breakout trade/long.” Consequently, both short-term traders and longer-term investors are evaluating support and resistance zones to gauge Ethereum’s next moves.
The 4-hour ETH perpetual futures chart is in price action hovering around $3,040–$3,050, well inside the key resistance zone. Snyder does point out some demand zones below, around $2,900–$2,950 and a stronger $2,780–$2,820 region. These tend to be areas that buyers have come in historically, so one would expect any pullback in price to stabilize around those areas.
Moreover, the projected scenarios involve three possible outcomes: a bullish breakout towards $3,170-$3,200, a mid-range correction to $2,950, or a deeper pullback to $2,800. Each path depends on liquidity sweeps and market reaction around these levels.
Broader Market Perspective
On a higher timeframe, analyst Nology provides a broader view using the 8-hour ETH chart. Ethereum has undergone three phases: a strong rally from low $2,000s to above $5,000, a prolonged correction, and an early-stage recovery.
Nology added, “Rejection from $4,188 is a bad news for me.” Currently, ETH is seen trading around $3,000, but it’s showing early indications of higher lows, suggesting a loss of strength on the downside. On the other hand, a stabilization at moving averages could indicate the initiation of a base formation.
Resistance zones at $3,400–$3,600 and $4,200–$4,600 could define the next bullish targets. Meanwhile, the $2,800 level remains crucial for downside protection. Losing this zone would threaten the recovery thesis and risk deeper consolidation. Hence, traders are closely monitoring price action near these pivotal levels.
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