Peter Smith
⬤ Ethereum has climbed into a crucial resistance zone between $3,200 and $3,400 after bouncing from recent lows. Traders are now watching to see if the price can break through and hold above this level, or if the rally will stall here. The price action around this area shows multiple reactions, making it a key spot for determining ETH's next move in the short term.
⬤ If Ethereum manages to push above and stay above the $3,200 to $3,400 range, it could spark more upward momentum. The next target would be somewhere between $3,800 and $4,000, which is marked as another significant resistance area on the chart. How ETH reacts when it hits that zone will likely show whether the bullish energy can keep going or if it's about to cool off.
⬤ On the flip side, there's also a real chance of rejection at this resistance level. If ETH can't hold above $3,200 to $3,400, it could pull back toward the $3,000 support level, which has worked as a floor before. This $3,000 mark is important because it's where buyers recently showed up to defend the price. Dropping back down there would suggest the upside momentum is losing steam and that the market might consolidate for a while.
⬤ This technical picture matters because these resistance and support levels guide how traders feel about Ethereum in the near term. The $3,200 to $3,400 zone is acting as a decision point—breaking above or failing below it will likely influence market sentiment and participation. Since Ethereum plays such a central role in crypto, what happens here could set the tone for the next phase of price action across the market.
Peter Smith
