• Ethereum is currently trading at $3,204.39, price action confirms the strength of $3,180 resistance turned support.
• Indicators suggest momentum is building, with the next target around $3,350–$3,420.
• Accumulation and volume point to early bullish sentiment, making short-term outlook positive.

Ethereum is getting the attention of traders who are looking forward to the upcoming upgrade of ETH called Fusaka, which is expected to improve the scalability and efficiency of ETH. At press time, ETH is trading at $3194.61 and has increased by 4.52% in the last 24 hours.

ETH Reclaims Trend Levels With Fresh Strength

According to the data curated from TradingView, the Ethereum price is currently above $3180 resistance. Also, the MA50 and MA200 are converging in the vicinity of $3420, which will be the next major resistance for the ETH. Currently, by using the on-balance volume (OBV), it is being evidenced that an increased volume of investment is being made towards Ethereum.

Also Read: Ethereum’s (ETH) Fusaka Upgrade Set to Boost Rollup Scaling 8× With PeerDAS

Momentum Indicators Turn in Favour of Bulls

According to the data from TradingView, there is a bullish MACD crossover currently occurring in the ETH market, thus creating increased buying momentum in the short-term as a consequence of the newly-sized volume curve, indicating increased investment activity in the Ethereum Market. Immediate support for the coin market at $3025 and $2803 will continue to serve as the next major support area for ETH if it retraces back down.

Heavy Accumulation Supports ETH’s Latest Move

According to a recent update on X by the analyst Ali Charts, $3180 is the main resistance level that ETH is facing, and the most significant support level is at $2800. Additional support for this observation can be seen from on-chain data, as it shows that 2.6 million ETH has been accumulated between the two prices. If ETH successfully breaks through the resistance level of $3180, it will demonstrate that buy orders are outweighing sell orders, which will create upward momentum in the near term.

In conclusion, the coin was breaking out above $3,180 after posting strong gains over the previous day. Should buyers continue to keep ETH near these elevated levels, we should expect the coin to target the $3,400 area shortly. Conversely, the $2,800 area represents significant support for the bulls to guard against price declines.

Also Read: Bitmine Buys 18,345 ETH Amid Fusaka Upgrade