Ethereum extended its short-term recovery as prices stabilized near the $3,335 level during the latest 4-hour session. Market data shows ETH breaking out of a multi-week consolidation, shifting sentiment toward upside continuation. The move followed several failed attempts earlier this year, which kept price action capped below the $3,250 area.
Ethereum extended its short-term recovery as prices stabilized near the $3,335 level during the latest 4-hour session. Market data shows ETH breaking out of a multi-week consolidation, shifting sentiment toward upside continuation. The move followed several failed attempts earlier this year, which kept price action capped below the $3,250 area.
This time, buyers returned with stronger conviction. Trading activity increased as Ethereum reclaimed key technical levels, signaling a change in short-term structure. Consequently, analysts tracking intraday trends now view the market as constructive, provided recent gains hold.
Ethereum’s latest rally pushed price decisively above the $3,200 to $3,250 congestion zone. Besides clearing horizontal resistance, ETH also reclaimed all major exponential moving averages on the 4-hour chart. These include the 20, 50, 100, and 200 EMAs. This alignment reflects renewed trend strength and sustained buying interest.
Significantly, the breakout came after a prolonged compression phase, often associated with volatility expansion. Hence, traders now monitor follow-through price action rather than chasing the initial impulse.
Immediate resistance stands between $3,350 and $3,380, where sellers previously stepped in. A firm hold above this range would strengthen confidence in continuation. Moreover, the next upside reference sits near $3,450, aligning with a prior swing high. If momentum accelerates further, the $3,500 psychological level could come into focus.
On the downside, Ethereum holds near-term support between $3,305 and $3,310. This area aligns with a key Fibonacci retracement level. Additionally, the $3,190 to $3,200 zone remains critical.
That range combines Supertrend support and an EMA cluster. A sustained break below it would weaken the bullish structure. Consequently, attention would shift toward the $3,110 to $3,115 region, marking the prior breakout base.
Derivatives data adds complexity to the outlook. Ethereum open interest expanded sharply during recent price advances, surpassing $40 billion. This trend reflects rising leveraged participation rather than pure spot accumulation.
However, sharp pullbacks earlier this year triggered temporary open interest flushes. Notably, positions rebuilt quickly after each reset. This behavior suggests persistent speculative engagement, increasing sensitivity to liquidation-driven volatility.
Spot flow data tells a more cautious story. Ethereum experienced extended net outflows, signaling distribution pressure during pullbacks. However, outflows narrowed recently near the $3,300 zone.
Moreover, intermittent inflow spikes appeared around local lows. This shift suggests selling pressure may be easing. If fresh demand emerges, ETH could consolidate before attempting another leg higher.
Key levels remain clearly defined as Ethereum trades at a pivotal technical zone heading into the coming sessions.
On the upside, $3,350–$3,380 stands as the immediate resistance band. A confirmed breakout above this area could open the path toward $3,450, followed by the psychological $3,500 level if momentum accelerates. These zones align with prior swing highs and Fibonacci extensions, making them critical upside targets.
On the downside, initial support rests at $3,305–$3,310, where short-term buyers previously stepped in. Below that, the $3,190–$3,200 region marks a strong demand zone, reinforced by the Supertrend indicator and a clustered EMA base. A deeper pullback could expose $3,110–$3,115, which represents the prior breakout base and a key Fibonacci midpoint.
From a structural perspective, ETH remains constructive after reclaiming all major moving averages. The price action suggests continuation strength rather than exhaustion.
However, derivatives data shows elevated open interest, pointing to leverage-driven momentum that could amplify volatility. Spot flows, meanwhile, continue to show muted accumulation, which keeps the rally sensitive to sentiment shifts.
Ethereum’s short-term outlook depends on whether buyers can continue defending the $3,200 area. Holding above this level keeps the bullish bias intact and supports a potential push toward $3,450.
Failure to maintain $3,190, however, would weaken the structure and risk a broader pullback toward $3,110. For now, ETH trades in a decisive zone where confirmation from volume and sustained inflows will likely determine the next major move.
