$ETH – explosive V-reversal driving price back into local highs
Price: 3,090.67 USDT | +2.84%
Intraday high/low: 3,145.68 / 2,972.35
Reason
After a sharp flush down toward the low 2,600s, ETH caught strong demand and ripped higher in a near-vertical move. Buyers have completely erased the dump and are now holding price just under the recent high zone around 3,150, showing clear momentum and FOMO-style bidding on the 4H.
Key Levels
Support: 2,980 – 2,940 first demand zone, then 2,830 – 2,800, deeper support near 2,620 – 2,600
Resistance: 3,145 – 3,170 current local high region; above that, room opens toward 3,250+
Trend
Short-term: bullish, strong momentum after V-shaped recovery
Medium-term: bullish as long as price continues to close above the 2,940–2,980 zone
Trade Idea
If $ETH holds above 2,980 – 2,940 and we see a clean 4H breakout through 3,145 – 3,170, longs can target 3,250 – 3,300 with invalidation on a confirmed close back below 2,940.
If price fails to break 3,150 and rolls over with heavy selling, look for a pullback into 2,980 – 2,830 as a potential buy-the-dip area, watching for bullish reaction before re-entering.
Main takeaway: bulls have completely taken back control with a violent V-reversal, and as long as ETH holds above 3K, dips are more likely to be launchpads than exit signals.
