ETH at the Crossroads: Can $3,350 Give Way to a Real Breakout?

Ethereum is in a critical holding pattern after retreating from its recent $3,448 high. Currently trading around the $3,200 zone with the 100-hour Moving Average acting as a near-term anchor, ETH bulls are essentially in a “prove it or lose it” moment. The question isn’t whether Ethereum can rally—buyers have already shown conviction by defending the $3,150 support level—but whether they can sustain momentum through the thick resistance clustered around $3,350.

The Setup: Consolidation Above Support

The recent pullback told an interesting story. Rather than cascade lower when sellers appeared near $3,450, ETH held its ground around $3,150, drawing in fresh buyers. This defensive action created room for a rebound that pushed price back above $3,300 and briefly flirted with $3,400. However, the inability to sustain gains above $3,450 triggered a correction that dragged the market below $3,250.

What matters now is that Ethereum bounced off the 50% Fibonacci retracement level—a classic inflection point—and re-established itself comfortably above $3,200. A new uptrend formation has emerged on the hourly timeframe with support materializing near $3,180. As long as price respects this technical floor, the bulls retain the narrative. Break it, and the structure crumbles.

$3,350 Remains the Real Barrier

Here’s where it gets interesting for traders watching for a directional move. The immediate resistance sits at $3,290–$3,320, but the real test is $3,350. This isn’t just a random level—it’s where previous rallies have stalled, and it’s thick enough to matter. A decisive break through $3,350 would be the signal that buyers are serious about revisiting $3,400, and from there, $3,450 comes back into play. If momentum truly accelerates, $3,500 becomes a realistic target.

When Does This Flip Bearish?

The bull case is constructive but fragile. If Ethereum rolls over at $3,320 and sellers reclaim control, watch for $3,200 as the first line of defense. Lose that, and $3,150 becomes critical. A daily close below $3,150 would invalidate the entire rebound structure and likely push ETH toward $3,040–$3,020, with $3,000 emerging as the next major support zone.

The Momentum Picture Favors Shorts-to-Longs Rotation

Currently, hourly MACD is building bullish momentum, and RSI is holding above the 50 level—both suggesting intraday buyers maintain the edge. This explains why dips are being defended rather than sold through. But indicators can flip quickly if price action deteriorates.

Bottom line: Ethereum is staging a bounce with clear upside targets, but $3,350 is the gatekeeper. Until bulls can turn it from ceiling into floor, the rally remains a “work in progress” rather than a confirmed reversal.