ETH Reclaiming $3.6K Resistance Validates Bull Run Thesis
Ethereum price analysis shows ETH trading inside a descending parallel channel after failing to sustain above the $3.6K–$3.7K resistance block. The asset now retests the lower boundary and the 200-day moving average at around $3.3K, a key support level. A daily close below this moving average risks a drop to the $3.0K–$3.1K demand zone, where significant liquidity awaits. Conversely, reclaiming $3.6K would confirm the bullish recovery structure and could open the path toward the $3.9K–$4.0K supply zone. On shorter timeframes, ETH broke below a local ascending channel, with the $3.45K–$3.5K area now acting as resistance. Momentum indicators, including a sub-50 RSI, reflect weakening strength. A clean break above $3.6K or below $3.3K will likely drive the next directional move. Traders should watch these liquidity zones closely to gauge potential bull or bear triggers.
Neutral
The analysis highlights ETH’s positioning within a descending channel and its failure to break above the $3.6K resistance, while hovering near the 200-day MA support. This tug-of-war between key levels suggests neither bulls nor bears have full control, leading to a neutral outlook. Historically, ETH’s clear breakout above major resistance zones has been required to confirm bullish trends, and equally a decisive break below support has triggered deeper corrections. Until ETH decisively reclaims $3.6K or drops below $3.3K, market direction remains uncertain, warranting a neutral stance for short-term traders and indicating consolidation for longer-term holders.