After the correction from the peak of $3,880, Ethereum found solid support at $3,365 and is stabilizing back. The price is currently trading above $3,550 and the 100-hour SMA, with the upward momentum supported by a positive technical structure.
Main developments:
Strong bounce from the support area of $3,365 up to above $3,500.
Surpassing the 50% Fibonacci level from the peak of $3,877 to the bottom of $3,369.
Forming an upward channel with support at $3,620.
Resistance level to overcome:
$3,720 and $3,750 (Fibonacci 76.4%).
$3,800 is the main barrier to extending the upward momentum to $3,880 and $4,000.
Adjustment scenario if it fails:
Support respectively at $3,620 – $3,550 – $3,450.
Technical indicators:
MACD remains in the positive zone.
RSI holds above 50, supporting short-term recovery momentum.
Summary:
If it holds above $3,600 and surpasses $3,800, ETH has a chance to retest the $3,880 area and extend to $4,000–$4,120.