ETH Technical Outlook: Ethereum Attempts Relief Bounce but Trend Remains Bearish

ETH is showing a small recovery after a sharp decline toward the $2,750–$2,850 support zone, where buyers stepped in to slow the sell-off. The downtrend accelerated after multiple rejections near the $3,790–$4,065 region, aligned with the 0.5 and 0.618 Fib levels, confirming strong seller dominance at higher resistance ranges.

This breakdown pushed ETH below the 20 EMA ($3,158), 50 EMA ($3,527), 100 EMA ($3,679), and 200 EMA ($3,523) — all now acting as stacked resistance levels that ETH must reclaim to shift momentum.

The current bounce is constructive but still fragile. A daily close above $3,174 (0.236 Fib) is the first sign of stabilization. However, true trend recovery won’t begin unless ETH breaks above $3,514 (0.382 Fib) and then challenges the $3,790 (0.5 Fib) level.

A stronger bullish reversal would require ETH to reclaim $4,065 (0.618 Fib) — a critical zone where sellers previously dominated.

On the downside, failure to hold above $2,850 could send ETH back toward $2,623, the major swing-low support. Below this level, the next key demand region sits near $2,400, highlighted on the chart.

The RSI at 37.8 shows slight improvement from oversold levels but still signals weak momentum, suggesting ETH remains vulnerable unless buyers step in aggressively.

📊 Key Levels

Resistance:

$3,174 → $3,514 → $3,790 → $4,065

Support:

$2,850 → $2,623 → $2,402

RSI:

37.8 — Weak momentum, slight recovery

📌 Summary

ETH is attempting a relief bounce from strong support, but the broader trend remains bearish as long as price stays below the $3,514–$3,790 resistance zone. A deeper reversal requires a break above $4,065, while failure to hold current support could open the door to $2,623 again.

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