Ethereum Holds Above $3,000, Faces Resistance at 50‑Day SMA
Ethereum (ETH) has resumed a gradual bullish move, trading above key moving averages and holding a narrow range above the $3,000 support. Price recently broke above the 21-day simple moving average (SMA) but remains capped by the 50-day SMA near roughly $3,400. If buyers push ETH above the 50-day SMA, upside targets cited are $3,600 and $3,800. Failure to clear the 50-day SMA could keep Ether range-bound between the moving averages or maintain price above $3,000. Technical resistances are $4,500 and $5,000; supports are $3,000 and $2,500. On the 4‑hour chart price bars sit above upward-sloping moving averages, suggesting continued bullish bias while those remain intact. The piece is an author opinion and not trading advice.
Neutral
The report describes a cautiously bullish technical setup but highlights a clear resistance at the 50-day SMA that is limiting further upside. Short-term indicators (price above 21-day SMA and 4‑hour moving averages) favor buyers while the inability to clear the 50-day SMA suggests limited momentum. For traders this implies a neutral-to-slightly-bullish outlook: a successful breakout above the 50-day SMA would likely trigger short-term buying toward $3,600–$3,800 and potentially higher resistance levels; a rejection would probably keep ETH range-bound above $3,000 or see a pullback to $2,500. This mirrors previous episodes where ETH traded above shorter SMAs but stalled at longer-term moving averages, producing consolidation until a decisive break. Therefore market impact is unlikely to be strongly directional immediately but could become bullish if the 50-day SMA is breached with volume.