Ethereum price started a fresh increase above $3,200. ETH is now consolidating 
gains and might aim for more gains above $3,250. Ethereum started a fresh 
increase above the $3,050 and $3,120 levels. The price is trading above $3,120 
and the 100-hourly Simple Moving Average. There is a short-term contracting 
triangle forming with support at $3,130 on the hourly chart of ETH/USD (data 
feed via Kraken). The pair could continue to move up if it settles above the 
$3,240 zone. Ethereum Price Eyes Another Upside Break Ethereum price managed 
to stay above $2,920 and started a fresh increase, like Bitcoin. ETH price 
gained strength for a move above the $3,000 and $3,050 resistance levels. The 
bulls even pumped the price above $3,150. However, the bulls struggled to 
clear $3,240 and $3,250. A high was formed at $3,239 and the price recently 
corrected some gains. There was a spike below the 23.6% Fib retracement level 
of the recent move from the $2,718 swing low to the $3,239 low. Ethereum price 
is now trading above $3,120 and the 100-hourly Simple Moving Average. There is 
also a short-term contracting triangle forming with support at $3,130 on the 
hourly chart of ETH/USD. If there is another upward move, the price could face 
resistance near the $3,200 level. The next key resistance is near the $3,240 
level. The first major resistance is near the $3,250 level. A clear move above 
the $3,250 resistance might send the price toward the $3,320 resistance. An 
upside break above the $3,320 region might call for more gains in the coming 
days. In the stated case, Ether could rise toward the $3,450 resistance zone 
or even $3,500 in the near term. Downside Correction In ETH? If Ethereum fails 
to clear the $3,240 resistance, it could start a fresh decline. Initial 
support on the downside is near the $3,120 level. The first major support sits 
near the $3,050 zone. A clear move below the $3,050 support might push the 
price toward the $3,000 support. Any more losses might send the price toward 
the $2,980 region and the 50% Fib retracement level of the recent move from 
the $2,718 swing low to the $3,239 low in the near term. The next key support 
sits at $2,850 and $2,840. Technical Indicators Hourly MACD – The MACD for 
ETH/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for 
ETH/USD is now above the 50 zone. Major Support Level – $3,130 Major 
Resistance Level – $3,240

Ethereum Tightens Uptrend Structure as Market Eyes Another Wave of Gains

Ethereum is approaching a critical moment as multiple bullish signals begin to 
align. A clear Inverse Head &amp; Shoulders formation, combined with rising 
accumulation and weakening trend rejection, suggests that the market may be 
gearing up for a powerful upside move. With momentum tightening and key levels 
coming into focus, ETH now stands on the verge of a breakout that could set 
the stage for its next major rally. Inverse Head And Shoulders Signals Brewing 
Momentum According to a recent update shared by crypto analyst Donald Dean, 
Ethereum may be gearing up for a significant move. He highlighted the 
development of a potential inverse head and shoulders pattern, a classic 
bullish reversal formation that often precedes strong upward momentum. This 
emerging structure suggests that ETH could soon shift into a more aggressive 
bullish phase if confirmed. Related Reading: Ethereum Rockets Higher, 
Narrowing Distance to a Make-or-Break Resistance Line Dean also pointed out 
that the weekly chart is showing solid support near the 50% Fibonacci 
retracement level, positioned around $2,750. Adding to the bullish signals, a 
hammer candle has appeared on the weekly timeframe, hinting at buying pressure 
stepping back in after recent downside movement. If the pattern plays out, 
Dean noted that Ethereum’s first major target lies at $4,109, a level that 
would allow ETH to challenge previous resistance/support zones. Reclaiming 
this region would mark a meaningful shift in momentum and strengthen the 
bullish outlook for the asset. Beyond that, the next upside target sits near 
$5,766, which aligns closely with the 1.618 Golden Ratio extension calculated 
at approximately $5,793.51. Dean described this confluence as particularly 
noteworthy, suggesting that if Ethereum breaks above its nearer targets, a 
larger rally toward this golden-ratio level becomes a realistic possibility. 
Growing Accumulation Suggests Bulls Are Preparing For Action In an earlier 
analysis, LSTRADER reminded followers of the impressive move from $1,600 to 
$4,800, noting that this surge had been identified in advance through both the 
ETH chart and the ETH/BTC setup. The analysis captured the momentum shift that 
preceded the rally, reinforcing the value of tracking key structural signals. 
Related Reading: Ethereum Open Interest Cut In Half As $6.4B In Positions 
Vanish: Market Reset Accelerates In the current market structure, LSTRADER 
noted that the chart clearly shows multiple instances where the trend faced 
rejection. Despite these rejections, the trend is steadily losing strength 
while accumulation continues to build, a combination that typically reflects 
growing bullish interest and the potential for an upward breakout. However, 
LSTRADER stressed that no major move should be assumed until the trendline 
itself is broken, and confirmation is still required. For now, patience is key 
as traders continue monitoring the structure and waiting for a decisive shift 
in trend direction. Featured image from Freepik, chart from Tradingview.com

Ethereum Coils For A Breakout As IH&S + Heavy Accumulation Emerges

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Cryptocurrency price in USD