Ethereum is clinging to its bullish footing above $3,000, even as global macro shocks push Bitcoin into the spotlight. The second-largest crypto has flipped a key technical level into support and is now drawing strength from a rebound in on-chain activity.
At a Glance
- ETH has broken out of a descending channel and turned $3,000 into strong support
- Daily resistance sits at $3,300-$3,700, where the 100- and 200-day moving averages converge
- Active addresses have climbed back above 400,000, matching levels from the last major rally
- Why it matters: A sustained hold above $3,000 with rising network use signals the next leg toward $4,000 could be underway
Daily Chart Breakout Holds
The daily structure shows ETH punching through a descending parallel channel that capped prices for months. The breakout lifted the market into the $3,300-$3,700 resistance cluster, but sellers stepped in, leaving a string of red candles.
That zone is no ordinary ceiling. It bundles the 100-day and 200-day moving averages, a combination that has rejected every breakout attempt since early 2025. Until bulls reclaim $3,500 on a daily close, the risk of a local top remains.
Still, the overall tone is intact. The RSI has cooled from overbought territory without diving into bearish levels. A higher low anywhere near $3,000 would keep the ascending trendline valid and open the door for another run.
Key levels to watch:
- Support: $3,000 (prior breakout flip), $2,700 (daily trendline base)
- Resistance: $3,300 (upper channel), $3,500 (invalidation point), $4,000 (psychological)
4-Hour Base Builds Above $3K
Zooming in, ETH is consolidating inside a tight $3,000-$3,100 pocket after last week’s impulsive move. The upper bound of the old descending trendline halted the rally at $3,300, and the market has since been digesting gains.
Volume has thinned, a setup that often precedes a volatility expansion. A decisive push through $3,300 would expose the $3,500 level, matching the daily chart’s invalidation point. Beyond that, there is little in the way until the round-number $4,000 mark.
The downside scenario is equally clear. Losing $3,000 on rising volume would target the pattern’s lower boundary near $2,900. A daily close beneath that opens a deeper correction toward the high-confluence demand zone at $2,600, where the 2025 summer lows converge with the yearly pivot.
Trader checklist:
- Watch for a 4-hour close above $3,300 for continuation
- Guard against a high-volume sweep of $2,990
- RSI bullish divergence could telegraph the next leg up
Network Usage Springs Back to Life
Price action is only half the story. Ethereum’s 30-day simple moving average of active addresses has turned higher after a steep slide in the back half of 2025. The metric now sits just above 400,000, matching the reading that preceded the last sustained rally from $2,200 to $4,000.
Historically, address activity leads price by days or weeks. The current rebound hints that decentralized finance and restaking protocols are pulling users back on-chain. If the uptrend accelerates past 450,000 active addresses, it would cement the idea that organic demand-not leverage-is driving the recovery.
Other on-chain cues align:
- Exchange balances have fallen to a five-year low, reducing immediate sell pressure
- Gas fees have stabilized near 25 gwei, low enough to encourage dApp usage
- New contract deployments are up 18% month-over-month, signaling developer optimism
Macro Fog Keeps Traders Cautious
While ETH charts flash bullish, broader markets remain on edge. Escalating tensions in the Middle East and fresh capital controls in several emerging economies have pushed capital into the dollar and out of risk assets. Bitcoin has felt the brunt, but Ethereum has so far avoided contagion.
Derivatives data show leveraged longs are not overextended. The funding rate across major exchanges sits near 0.01%, well below the 0.05% level that often marks local tops. A spike in open interest combined with a funding reset would give bulls the ammunition for an upward expansion.
Bottom Line
Ethereum’s ability to hold $3,000 against a shaky macro backdrop is no small feat. The breakout from a multi-month channel, rising active addresses, and limited leverage all point to a market preparing for another leg higher. The immediate hurdle is $3,500-a close above that level likely unlocks a path toward $4,000, while failure to defend $3,000 risks a deeper correction to $2,600.
Key Takeaways
- ETH has flipped $3,000 from resistance to support after a channel breakout
- Daily resistance at $3,300-$3,700 must be cleared to avoid a local top
- Network activity is rebounding, with active addresses back above 400,000
- A 4-hour close above $3,300 targets $3,500, then $4,000
- Losing $3,000 on volume opens a drop toward $2,900-$2,600
