Ethereum Eyes Another Recovery Wave — Key Resistance at $3,050

Ethereum has initiated a fresh recovery attempt after bouncing from the $2,775 region, trading back above the $2,950 mark and the 100-hour Simple Moving Average. The hourly chart shows a meaningful break above a bearish trend line with resistance near $2,920, and bulls have already pushed ETH past short-term barriers at $2,850 and $2,880. According to data from Company Kraken, the next critical threshold for the market to decisively favor upside momentum is the $3,050 zone.

If Ethereum manages to settle above $3,050, the path toward the next resistances at $3,080 and $3,150 becomes more likely. A clean break above $3,150 could open the door to further gains toward the $3,220–$3,250 region in the near term. These levels correspond to the 61.8% Fibonacci retracement of the recent downward swing from the $3,175 high to the $2,775 low, which the market has partially retraced.

However, the upside scenario is conditional. If ETH cannot overcome the $3,050 barrier, a renewed pullback is plausible. Immediate support sits near $2,950, with the first major support around $2,915. A decisive move below $2,915 would likely drive price action toward $2,880 and potentially to the $2,840–$2,800 zones if selling pressure intensifies.

From a technical perspective, hourly indicators show mixed signals. The MACD on the hourly chart is losing bullish momentum even though the RSI remains above the 50 midpoint, suggesting that while buyers retain some control, the strength of the rally is not yet robust. Traders should watch for confirmation: a sustained hourly close above $3,050 will improve bullish odds, while a close below $2,915 would favor further downside.

For investors and traders, the current consolidation offers a clear risk-management framework. Short-term bulls can look for confirmation above $3,050 with targets at $3,080, $3,150, and then $3,220–$3,250, while shorts or risk-averse participants should note the supports at $2,950, $2,915, and $2,880 as key invalidation points. Given that Bitcoin has also shown recovery behavior recently, ETH’s next moves may be correlated with broader market momentum.

Editorial take: This phase for Ethereum appears to be a consolidation with a bullish bias as long as it remains above the 100-hour SMA and the $2,915 support. Market participants should monitor the Company Kraken hourly price feed for intraday confirmations and treat breakout closes beyond the highlighted levels as the primary signals for directional bets. Risk management, tight stops around the defined support/resistance bands, and attention to intraday momentum indicators will be essential for navigating potential volatility.