Marina Lyubimova
⬤ Ethereum is pressing against an important resistance area near $3,120 after a sharp intraday recovery on the four-hour chart. Bulls are working to flip this level, which has repeatedly blocked upward moves during recent consolidation.
⬤ The chart shows a brief breakout attempt above $3,120 before a quick rejection, proving the market still respects this price point. ETH has been trading between roughly $3,000 and $3,120 lately, forming a tightening pattern that signals mounting pressure. The visible wick above resistance shows buyers tried forcing a breakout, though sustained momentum hasn't developed yet.
⬤ If ETH/USD reclaims the $3,120 zone, the next technical target sits at $3,230, where previous rallies hit overhead resistance earlier in December. The chart displays a clearly defined horizontal range high around $3,230, which will likely attract price once buyers take control. Until then, Ethereum may keep oscillating in its current range as the market balances short-term liquidity.
⬤ This setup matters because Ethereum's reaction at major resistance levels often shapes broader market sentiment. A decisive move above $3,120 could boost confidence in emerging bullish momentum and open doors to retesting higher levels, while hesitation may extend the existing consolidation. As ETH approaches this key point, its behavior will influence expectations across the wider crypto market.
Marina Lyubimova
