ETH Technical Outlook: Ethereum Attempts to Recover from Major Demand Zone After Long-Term Correction

Ethereum is currently in a broader correction structure after facing a strong rejection from the $4,450–$4,950 macro supply zone, where prices peaked near the 0.786–1.0 Fibonacci levels. This rejection marks a clear distribution phase, ending the previous bullish impulse and triggering several months of sharp decline.
Once ETH loses the $4,065–$3,790 (0.618–0.5 Fibonacci) region, selling pressure will intensify, turning this area into a strong resistance zone and confirming a bearish structural shift.
EMA Structure (Bearish, Early Rebound Signs)
20 EMA – $3,064
50 EMA – $3,128
100 EMA – $3,309
200 EMA – $3,353
ETH is still trading below the 100 and 200 EMAs, maintaining a broader bearish trend. However, the price has recovered above the 20 and 50 EMAs, indicating short-term strength and rebound momentum. The $3,300–$3,350 zone remains a key dynamic resistance area.
Fibonacci and Price Structure
1 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
Fibonacci 0: $2,623
ETH is consolidating above the $2,600–$2,750 major demand zone, which aligns with the Fibonacci 0 level, showing strong buying interest. Recent price action indicates higher lows, suggesting increasing potential for bottom formation and rebound.
A sustained break above the $3,175 (0.236 Fibonacci) will open up upside potential toward $3,500–$3,790, where overlapping Fibonacci and EMA resistance exists. A structural shift requires acceptance of prices above the $3,790 (0.5 Fibonacci).
RSI Momentum
RSI (14): 68
The RSI has entered the bullish momentum zone, indicating strong buying pressure in the short term. While this supports further upside, RSI also hints that ETH is approaching local resistance conditions, possibly 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 (Fibonacci 0 / Major Demand)
$2,400 (Extended Downside Support)
Summary
ETH shows early rebound signs after defending a major long-term demand zone. Although short-term momentum has turned bullish, unless Ethereum can strongly reclaim the $3,500–$3,790 resistance zone, the overall structure remains corrective. Failure to hold above the $2,950–$2,620 range will put ETH under downside pressure.