Usman Salis
⬤ Ethereum's been stuck in a tight range lately after a lengthy pullback, but there's something interesting happening beneath the surface. ETH is holding steady below a well-defined resistance area, and the way price is behaving suggests that smart money might be quietly accumulating. The daily chart shows ETH staying above recent lows while bumping up against a descending trendline and the 50-day exponential moving average—basically, it's caught between support and resistance.
⬤ Right now, ETH is trading near $3,050 after trying and failing to climb back to higher ground earlier this quarter. There's a crucial resistance zone sitting around $3,450 that used to act as support before flipping into overhead supply. This area lines up perfectly with that descending trendline and the 50-day EMA, making it a make-or-break level. Every time ETH has tried to punch through this zone, it's gotten pushed back down, confirming this is where the real battle is happening.
⬤ Here's what's encouraging though: the selling pressure is starting to fade. ETH keeps making higher lows along a rising base, which tells us sellers are running out of steam while buyers are slowly soaking up the available supply. The chart pattern looks more like consolidation than a setup for another leg down. Price is respecting the lower boundary of this range, which backs up the idea that we might see a recovery move rather than another drop.
⬤ If this accumulation phase continues, a push back toward that $3,450 zone would make sense as a technical bounce within the bigger picture. The projected path suggests that if ETH can break and hold above $3,450, the next stop could be anywhere from $3,900 to $4,000—an area that previously acted as resistance. How this consolidation plays out matters beyond just Ethereum itself, since ETH often sets the tone for the broader crypto market as we head into early 2026.
Usman Salis
