Ethereum Consolidates Near Key Zone, Traders Watch for Breakout Potential

May 6, 2025 — Ethereum $ETH

continues to hover in a critical price zone, drawing attention from traders eyeing a potential breakout. After a week of steady accumulation, ETH remains in a key Point of Interest (POI) area, where volume and historical support levels suggest possible upward momentum.

As of this morning, ETH is trading around $3,180, showing relative calm despite wider market volatility. The price action has stayed within a tight range, signaling consolidation rather than weakness. For technical analysts, this could be the launchpad for a new upward leg if momentum builds.

Setup Snapshot:

Support Zone: $3,100–$3,180 (strong historical demand)

Resistance Target: $3,350 and $3,500

Indicators: RSI remains neutral; MACD shows a narrowing gap — suggesting coiled momentum

Traders are particularly focused on ETH’s behavior near trendline resistance and short-term moving averages. A clean break above $3,250 with volume could validate a bullish breakout scenario.

Market Sentiment:

Sentiment remains cautiously optimistic. While macroeconomic uncertainty lingers, Ethereum fundamentals — including rising activity in DeFi and Layer 2 networks — support the case for mid-term strength.

“ETH still chillin in that POI zone,” one trader posted on X. “Setup’s lookin smooth. If momentum kicks in, this could be the launchpad. Eyes on that breakout vibe.”