**Reclaiming Key Territory: Is This a Trend Change?**
**Technical Barriers and Market Confidence**
Ethereum (ETH) is now trading above $3,100, reaching $3,103.20 with a 1.54% gain in the last 24 hours. After ETH traded in a tight range, this move shows renewed buyer interest. Staying above this level is key for the second-biggest crypto to confirm a shift in market trend.
**What's Next for ETH?**
Beating $3,100 is the first step toward a trend change, according to market watchers. While short-term momentum looks good, ETH still needs to reclaim long-term trend lines.
* **Support Levels:** The $3,080 and $3,000 areas are now important support levels. Holding above $3,100 will help confirm a new floor.
* **Resistance:** The next challenge is between $3,350 and $3,470. Analysts say that a strong daily close above this area is needed to confirm a move from consolidation to an uptrend.
* **Potential Targets:** If buyers stay in control and break through the $3,350–$3,470 range, ETH could head toward $3,500–$3,550. Some analysts think ETH could even reach $3,850–$3,900 by the end of the year if the market stays positive.
**What's Backing This Move?**
Ethereum's price is supported by these things:
* **Regulatory Approval:** Regulators recently approving spot trading of Bitcoin and Ethereum provides some clarity. This could bring more institutional interest and money into the ETH market.
* **Ecosystem Importance:** ETH is still the main driver for DeFi and NFTs. Continued improvements are expected to boost the demand for ETH.
**Final Thoughts**
Crossing $3,100 is a good sign, but the real test is the $3,350 resistance cluster. Keep an eye on trading volume as ETH nears $3,350. High volume on a breakout would mean strong buying, while a rejection could mean ETH stays in its range for a while.
*Disclaimer: This is not financial advice. Crypto involves risk. Do your own research.*
#Ethereum #ETH #orocryptotrends #Write2Earn *** Ethereum breaks $3,100. An analysis of resistance targets ($3,350-$3,470) and what's supporting the price, including regulatory approval.