ETH Technical Outlook: Relief Bounce Forms, but Bears Still in Control

Ethereum is attempting a short-term relief bounce after dropping into the $2,750–$2,850 demand zone, where buyers finally reacted and slowed the downward momentum. The recent sell-off was driven by repeated rejections from the $3,790–$4,065 zone — the 0.5 and 0.618 Fibonacci levels — confirming that sellers remain active at higher resistance levels.

The breakdown also pushed ETH below all key EMAs — 20 / 50 / 100 / 200 — which are now stacked above the price and acting as strong dynamic resistance:

20 EMA: $3,111

50 EMA: $3,451

100 EMA: $3,628

200 EMA: $3,503

For the current bounce to turn into a meaningful recovery, ETH must reclaim these levels one by one.

ETH is currently trying to hold above the 0.236 Fib ($3,173) — a level that would mark early stabilization if reclaimed on a daily close. However, the trend does not shift bullish unless ETH breaks above:

$3,514 (0.382 Fib)

$3,790 (0.5 Fib)

A major bullish reversal would require a decisive move above $4,065 (0.618 Fib), where price previously faced heavy rejection.

On the downside, losing $2,850 again could expose ETH to deeper targets:

$2,623 (Fib 0 level)

$2,402 — the next strong historical demand zone.

RSI is currently at 42.8, showing mild recovery but still below the neutral 50 level, indicating weak buying pressure and a market still tilted toward the bears.

📊 Key Levels

Resistance

$3,173

$3,514

$3,790

$4,065

Support

$2,850

$2,623

$2,402

RSI

42.8 — Weak momentum, slight improvement

📌 Summary

ETH is attempting a relief bounce from strong support, but the overall structure remains bearish while price trades below the $3,514–$3,790 zone. Bulls need a breakout above $4,065 to regain full control. Failure to hold current support levels may lead ETH back toward $2,623 or even $2,402.

$ETH

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