> At a Glance
> – ETH surged from $2.7K to test $3.4K resistance
> – Whale-sized spot orders cluster near this recovery
> – Price sits inside a broader descending channel
> – Why it matters: The next move at this technical crossroads sets the tone for weeks ahead
Ethereum is flirting with a make-or-break level. A sharp bounce off the $2.7K demand zone has carried the price into the thick of a major resistance band, and on-chain footprints show the biggest wallets are taking notice.
Daily Chart: Approaching the 100-Day Average
The 100-day moving average at $3.4K lines up with a yellow supply band that has repeatedly rejected rallies. Until ETH closes above it, the larger descending channel keeps the medium-term bias neutral-to-bearish.
- Resistance confluence: $3.4K-$3.5K
- Support to watch: $2.7K daily demand
- Breakout target: Channel top near $3.7K
4-Hour View: Wedge Breakout Under Scrutiny
A rally off the wedge’s lower bound ($2.7K) pushed ETH slightly past the upper trend line at $3.3K. The breakout is tentative; the blue box spanning $3.3K-$3,450 marks the real proving ground.
| Level | Significance |
|---|---|
| $3.3K | Wedge top retest |
| $3.4K | 100-DMA & supply zone |
| $3.5K | Channel ceiling |
A sustained acceptance above $3.45K would open room for an extended move, while rejection risks a slide back toward wedge support or the $3K mid-range.
Whale Activity Signals Accumulation
Green clusters on the Average Order Size metric reveal large spot buyers stepping in near structural support. The pattern mirrors past accumulation phases rather than distribution, hinting that downside liquidity is being absorbed by stronger hands.
- Notable uptick in whale-sized orders
- Clustering aligns with $2.7K bounce
- Implies reduced sell pressure from major holders
Key Takeaways
- ETH short-term momentum is improving, but $3.4K is the line in the sand
- A daily close above $3.5K is required to flip the higher-timeframe bias
- Whale accumulation near $2.7K adds credence to the recovery
- Failure to break $3.45K could reignite selling toward $3K or lower
All eyes are now on how ETH reacts around $3.4K-$3.5K; the outcome decides whether the recent bounce evolves into something bigger or fades like prior attempts.
