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📈 On-Chain & Technical Insights

Over the 24‑hour window, ETH swung between ≈ $2,933.50 and $3,065.45, indicating ~4% intraday volatility, capped with a strong final-hour rally toward $3,051.89—a bullish sign of institutional support .

Classic breakout patterns confirmed:

A cup-and-handle breakout above ~$2,950 hints at upside potential toward $4,100+ .

A bullish wave analysis breakout past $2,885 suggests continuation toward $3,140 .

Short-term chart levels to watch:

Resistance: $3,050 → $3,256 (Fib 0.618) → $3,300–3,500 .

Support zones: immediate support at $2,933–2,940, with secondary floors at $2,800 and mid-$2,200s .

Momentum & sentiment indicators:

RSI around neutral (~50).

MACD shows modest bullish crossover.

Open interest slightly up (~$44 B in ETH futures), signaling bullish leverage .

MVRV bands suggest room for a cycle-top of $4,900, with ETH currently in a healthy profit zone .

🎯 Outlook & Scenarios

Timeframe Target Range Key Drivers

**Short term (days–couple of weeks)** $3,050–3,300 Breakout from $3,000 psychological level; momentum fueled by ETF flows.

**Mid term (weeks–months)** $3,500–4,100+ Institutional accumulation, bullish chart patterns, upward momentum.

Bull-case extension $4,900–7,500 MVRV cycle top and growing institutional conviction .

Bear-case correction $2,900–2,800 Failure to hold support, macroeconomic pressures, RSI overbought scenarios.

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✅ Summary

Ethereum currently trades at ~$3,112 with strong institutional backing, classic technical breakout patterns, and positive on-chain dynamics. While short-term resistance resides near $3,050–3,150, a sustained breakout could lead to $3,300–3,500 in the coming weeks. In the bull-case, targets extend to $4,900–7,500, but failure to hold $2,940–2,950 could prompt a dip to $2,800.