Ethereum at a Crossroads: Can Bulls Reclaim the $3,350 Barrier?

Ethereum is currently trading around $3.24K after a volatile pullback from its recent peak near $3,448. The million-dollar question: will ETH manage to clear the $3,320–$3,350 resistance zone, or is another dip back to support levels in the cards?

The Price Action: A Rebound That Matters

ETH kicked off a downside correction from the $3,450 region but demonstrated real conviction by holding above $3,150—a critical floor that’s proving its worth as a buying point. The recovery has been textbook: price reclaimed $3,150, pushed through $3,200 (now acting as intermediate support alongside the 100-hour Simple Moving Average), and even tested $3,400 before meeting seller resistance.

The pullback that followed dipped price briefly below the 50% Fibonacci retracement level of the $2,914-to-$3,448 advance—typically where weak hands get shaken out and real buyers show up. Sure enough, demand emerged near $3,150, and Ethereum has since stabilized in the $3,200-$3,250 zone.

The Setup: Trend Lines and Momentum Clues

The technical picture is becoming clearer by the hour. A fresh bullish trend line is now forming on the hourly timeframe with support anchored around $3,180—think of this as the market’s short-term “do not break” level. Holding above this line keeps the rebound narrative intact and suggests bulls are still in control of the near-term direction.

Momentum is still tilted in the bulls’ favor:

• The hourly MACD remains in bullish territory and is gaining strength
• The hourly RSI sits comfortably above the 50 midpoint, signaling intraday buying pressure

These indicators explain why dips are being defended right now—the technical backdrop still favors higher prices.

The Real Test: Breaking Through $3,350

Here’s where it gets interesting. The next meaningful resistance sits squarely at $3,320–$3,350—a formidable zone that has already rejected higher prices once. A clean break above $3,350 would be the green light bulls need. From there, $3,400 becomes an immediate target, followed by $3,450 and potentially even $3,500 if momentum truly accelerates.

However, the bulls haven’t won yet. The market still needs to demonstrate that $3,350 can flip from a ceiling into a floor. Until that happens, the rally case is “building” rather than “confirmed.”

The Downside Risk: Know Your Exit

The bullish setup is alive but not invincible. Should sellers regain control and price fail to clear $3,320, the first support zone lies at $3,200. The hard line in the sand remains $3,150.

A decisive break below $3,150 would spell trouble for the rebound structure and could unravel the entire setup. In that scenario, expect ETH to slide toward $3,040–$3,020, with $3,000 emerging as the next critical support level.

The Bottom Line

Ethereum is at an inflection point. The short-term structure remains constructive with the new bullish trend line and solid momentum indicators providing support. But the burden is on the bulls to punch through the $3,350 barrier. Until they do, the rally remains in a “prove it” phase rather than a confirmed breakout. Watch how price behaves at the $3,290–$3,320 area on the way up—that’s where conviction will either strengthen or crack.