The post Ethereum Price Shows Early Strength—Why a Break Above $3,200 Matters for ETH’s Next Move appeared first on Coinpedia Fintech News
The Ethereum price is attempting to regain bullish momentum after rebounding from the $3,000 support zone, but upside progress remains doubtful. Sellers continue to restrict the recovery below a well-defined resistance range, which has now emerged as a critical threshold for trend continuation. While the rebound reflects underlying demand, technical indicators suggest that clearing this zone may require sustained buying pressure rather than a quick breakout.
Until ETH decisively secures this range, the probability of a broader rally toward $3,500 remains limited, keeping price action vulnerable to extended consolidation.
Currently, the ETH price is trading within a broad consolidation after a sharp decline from higher levels. Price rebounded from the strong lower support zone, highlighting the strong presence of the bulls who defended the dips. However, the price failed to break above the resistance and remained capped below the range. As a result, the crypto continues to chop around a tight range following a range-bound consolidation.
Now the question arises whether the ETH price will continue with its sluggish behavior or break above the crucial resistance and eventually rise above the decisive phase.
As seen in the above chart, the ETH price continues to trade within a decisive triangle, holding the ascending and descending trend lines as support & resistance. The structure has historically been bullish, but the technicals now suggest a pullback below $3000 could be mandatory. The Chainkin Money Flow (CMF), which has just risen above 1, is showing a bearish divergence, suggesting the capital is flowing out of the crypto. On the other hand, the MACD is preparing for a bearish crossover, causing a deeper correction for the ETH price.
However, the range between $3,029 and $3,070 could act as a strong base, helping the token to trigger a rebound. In case of a failure, the Ethereum (ETH) price may not only plunge below the range but also break the triangle and range lower. In such a case, a drop close to $2800 could be imminent. On the other hand, a successful rise above $3200 could erase the bearish possibility and pave the way for a continued upswing, probably beyond $3500.