Ethereum Price Upside Bid Fades, Can Bulls Hold the Line?

Ethereum ETFs attracted over $129 million in inflows on Tuesday, adding to $5 million the day before, with total inflows surpassing $12.57 billion and assets nearing $20 billion. The price is currently facing resistance at $3,340, with initial support at $3,300 and major support at $3,250. A drop below $3,250 may lead to further losses toward $3,220.

Ethereum is trading above $3,300 at the time of writing, with the 100-day EMA providing support at $3,288. The MACD indicator remains above the signal line on the daily chart, with green histogram bars above the zero line, supporting the bullish thesis. However, a break above the immediate 200-day EMA resistance at $3,339 is required to reinforce the bullish grip .

JPMorgan analysts expect capital inflows into crypto, including Ethereum, to increase in 2026 after a record $130 billion in 2025, driven by institutional investors and new U.S. regulations. Analysts project Ethereum could reach $3,500 by month-end, based on current trends and technical indicators.

Why the Move Happened

Ethereum price started a major increase above the $3,320 resistance and is now consolidating gains. The price is trading above $3,300 and the 100-hourly Simple Moving Average. A bullish trend line is forming with support at $3,280 on the hourly chart of ETH/USD.

Ethereum price remained stable above $3,220 and started a fresh increase, similar to Bitcoin. The bulls pumped the price above the $3,250 and $3,320 resistance levels. There was a high formed at $3,402, and the price is now correcting some gains.

How Markets Responded

Ethereum price is currently trading at $3,134 with analysts targeting $3,500 by month-end. Technical indicators show a neutral RSI at 54.33 while MACD signals bearish momentum despite bullish analyst forecasts. The price is consolidating around the $3,130 level, as traders await the next directional move.

The RSI reading of 54.33 places Ethereum in neutral territory, suggesting neither overbought nor oversold conditions. The MACD histogram at 0.0000 indicates bearish momentum has stalled, though it hasn't yet turned bullish. The Bollinger Band position of 0.66 shows ETH is trading in the upper portion of its recent range.

Key resistance levels to watch include the immediate resistance at $3,166.59 and the stronger resistance at $3,198.85. A break above these levels could trigger a rally toward analysts' $3,500 target. In the bearish scenario, Ethereum failing to hold the pivot point at $3,116.07 could lead to a test of immediate support at $3,083.81.

What Analysts Are Watching

Analysts project Ethereum could reach $3,500 by month-end, based on current trends and technical indicators. In a bullish case, Ethereum breaks above the $3,198.85 resistance level with strong volume. This would likely target the Bollinger Band upper limit at $3,278.72 initially, followed by a move toward the analysts' $3,500 projection.

Technical confirmation would require the MACD histogram turning positive and RSI pushing above 60. The 24-hour trading volume of $793 million suggests sufficient liquidity exists to support such a move. In the bearish scenario, Ethereum failing to hold the pivot point at $3,116.07 could lead to a test of immediate support at $3,083.81. A breakdown below this level could trigger selling toward the strong support at $3,033.29.

Ethereum's current technical picture presents a mixed outlook. Trading at $3,134.33, ETH sits comfortably above its short-term moving averages but remains well below the 200-day SMA of $3,636.05, indicating the longer-term trend remains under pressure. The RSI reading of 54.33 places Ethereum in neutral territory, suggesting neither overbought nor oversold conditions.

The MACD histogram at 0.0000 indicates bearish momentum has stalled, though it hasn't yet turned bullish. The Bollinger Band position of 0.66 shows ETH is trading in the upper portion of its recent range. Key resistance levels to watch include the immediate resistance at $3,166.59 and the stronger resistance at $3,198.85.

Ethereum is stabilizing at $3,111 while maintaining its upward trend. The RSI's neutral stance at 53 and MACD's bullish histogram indicate that buyers are not yet dominant but momentum is slowly building. The market outlook and current situation for Ethereum indicate a mildly optimistic atmosphere.

The volume of $5.97 billion indicates stable interest compared to previous days. Sustaining the upward trend requires more buyer participation. The overall crypto market is signaling a recovery led by Bitcoin, with ETH poised to lead the altcoin rally.

The most critical support is at $3,081.6781 (score: 87/100), just above the daily low and confluent with EMA20. This zone represents the lower boundary of the last 24 hours, and a bounce from here could confirm trend continuation. In a deeper pullback, $3,005.7515 (68/100) comes into play.

The first and nearest resistance is $3,126.2503 (71/100). If this level holds, price may remain in a tight range; however, in a breakout scenario, the next target becomes Supertrend resistance at $3,440.25. This upper level is reinforced by weekly resistance confluences, making it a critical milestone in an upside scenario.