$ETH REBOUNDS FROM SUPPORT
ETH is showing signs of recovery after finding strong support near $3,050, rebounding back above the Fib 0.236 retracement level at $3,505. The recent bounce suggests that buyers are gradually regaining control after a sharp correction phase in early November.
Currently, ETH is trading around $3,570, testing the confluence area of the 20 EMA ($3,703) and the 100 EMA ($3,892) — both acting as near-term resistance levels. A decisive daily close above this zone could confirm bullish momentum, paving the way for a push toward $3,782 (Fib 0.382) and $4,006 (Fib 0.5) in the coming sessions.
On the downside, $3,500 remains a key short-term support level. Sustaining above this region would strengthen ETH’s recovery outlook, while a break below could drag the price back toward $3,200–$3,050, where strong buying interest previously emerged.
The RSI (43.5) has started turning upward from near-oversold territory, indicating that bearish momentum is fading and a potential bullish crossover could form if buyers continue to defend higher lows.
Overall, ETH’s technical outlook appears cautiously bullish in the short term. A confirmed breakout above the $3,700–$3,900 resistance zone could trigger stronger upside continuation, targeting $4,200–$4,500 in the medium term — provided momentum remains steady and Bitcoin’s broader trend stays supportive.
