$Ethereum (ETH/USDT) is currently trading around $3,160, facing short-term selling pressure after failing to hold above the $3,300 resistance zone. The rejection has triggered a pullback, but the overall market structure still suggests strength on higher timeframes.
Technical Overview
On the 4-hour chart, ETH has dropped below the MA(7) and MA(25), signaling short-term bearish momentum. However, price is still holding above the MA(99) near $3,030, which remains a critical support level.
The recent high at $3,308 formed a local top, followed by strong red candles—indicating profit booking rather than panic selling.
Key Levels to Watch
Immediate Support: $3,150
Major Support: $3,030 – $3,000
Resistance: $3,240 – $3,260
Strong Resistance: $3,300 – $3,325
A confirmed breakdown below $3,100 could open the door for a deeper pullback toward $3,000. If ETH reclaims $3,250 with volume, another attempt toward $3,300+ is possible.
Volume & Momentum
Volume increased during the recent move up and slightly cooled during the pullback, suggesting controlled selling. This behavior often points to a healthy retracement, not trend exhaustion.
Market Sentiment
Despite the short-term dip, ETH remains bullish on higher timeframes, supported by higher lows from the $2,900 zone. Buyers are likely to step in near strong supports.
Conclusion
Ethereum is currently undergoing a normal correction after a sharp rally. Traders should avoid emotional decisions and wait for confirmation at key levels.
📌 Short-term trend: Neutral to bearish
📌 Higher timeframe: Bullish
📌 Strategy: Wait for support confirmation or breakout reclaim
