Ethereum is approaching a crucial resistance level at $2,835 after a sharp recovery from early June lows. The price is now holding above $2,795, building strong bullish momentum supported by volume and technical indicators across multiple timeframes.
On the 4-hour chart, Ethereum (ETH) broke out of a symmetrical triangle and reclaimed the $2,700–$2,730 demand area. This formation represents a change in trend because a higher low has been confirmed at about $2,430, bringing the price to the top of an extensive resistance area.
The bulls will now be targeting a move above $2,835 to set up a run toward the psychological level of $3,000.
On the daily chart, ETH has entered a grey supply zone that has seen breakdowns on earlier attempts. This zone contains a falling trendline along with a large liquidity pocket. A break above this region would signal a profound technical change and, should the momentum be sustained, could open the way to a push towards 3,150.
Source: Tradingview
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Momentum Signals Strengthen as Ethereum Approaches Breakout Point
Technical indicators continue to support the bullish structure forming on Ethereum’s 4-hour chart. The 20 EMA has moved above both the 100 and 200 EMAs, signaling a fresh trend shift. The price is pressing against the upper Bollinger Band at $2,861, suggesting increased volatility and the likelihood of further upside pressure.
Source: Tradingview
The 30-minute RSI holds near 57.5, staying below overbought levels while keeping bullish sentiment intact. MACD readings remain positive, though the histogram is flattening out slightly, indicating a volume spike is needed to sustain the rally.
Ichimoku analysis is also in the positive territory, where Ethereum is above the cloud, and crucial lines are consolidating at around $2,785.
Source: Tradingview
A move above the $2,835 resistance would trigger offside targets of $2,900 and $3,050 in connection with macro Fibonacci retracement areas at $2,845 and $3,148. On the other hand, a rejection above $2,775 could result in a correction to the $2,713-$2,660 area, where 20 and 50 EMAs meet as short-term support.
Source: Tradingview
With bulls continuing to exert pressure, the way Ethereum will move toward the $3,000 mark will depend on how the altcoin will fare in its current test of resistance. Market participants pay close attention to momentum indicators and volume to validate the next direction.
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