The Pi Coin pricesecond-largest cryptocurrency demonstrates resilience as Ethereum price action pushes through critical resistance levels, setting sights on higher valuation thresholds.
■ Ethereum establishes firm footing above $3,080 support level
■ The 100-hour SMA confirms bullish structure below current price
■ Emerging trendline support at $3,070 visible on ETH/USD hourly charts
■ Sustained closes above $3,200 could trigger accelerated upward movement
Ethereum's Relative Strength Against Market Leader
Following a period of consolidation, Ethereum initiated a robust recovery phase that successfully breached multiple psychological barriers. The digital asset first conquered the $3,050 resistance before mounting an assault on the $3,150 zone. This upward trajectory culminated in a brief but significant spike beyond $3,200, showcasing ETH's relative outperformance compared to Bitcoin during this period.
The rally extended to test the $3,220 resistance area, establishing a local peak at $3,213 before entering a corrective phase. This pullback saw ETH retreat below $3,150, finding temporary stability near the 50% Fibonacci retracement level drawn from the recent swing low of $2,894 to the $3,213 high.
Current technical positioning reveals Ethereum maintaining its position above both the $3,080 support and the 100-hour Simple Moving Average. Chart analysts note the development of an ascending trendline currently offering dynamic support around $3,070 on ETH/USD trading pairs.
Immediate overhead resistance appears near $3,140, with more substantial barriers waiting at $3,200 and $3,220 respectively. A decisive weekly close above these levels could potentially open the path toward testing the $3,320 resistance zone in subsequent trading sessions.
Critical Support Levels to Monitor
Should Ethereum encounter rejection at current resistance levels, traders should watch for potential support clusters. The primary defensive line forms at $3,070 coinciding with the active trendline. Below this, the $3,000 psychological level represents a significant support area, aligning with the 61.8% Fibonacci retracement of the recent upward impulse.
A breakdown below $3,000 could see ETH test the $2,970 support zone, with additional downside targets emerging near $2,895. In more extreme scenarios, the $2,820 level would come into focus as a potential accumulation zone for long-term holders.
Technical Indicators
Hourly MACD – Shows weakening bullish momentum despite remaining in positive territory
Hourly RSI – Currently hovering below the neutral 50 level, suggesting potential consolidation
Key Support – $3,070 (trendline confluence)
Key Resistance – $3,200 (psychological barrier)
