TLDR
- Ethereum price is compressing around the $3,400 pivot after a strong rebound.
- Analysts identify $3,700–$3,800 as the next resistance if $3,400 is reclaimed.
- Higher lows suggest buyers are defending pullbacks above $3,200 support.
- Compression between rising support and descending resistance signals a decision point.
Ethereum (ETH) price is consolidating near a pivotal technical zone as analysts assess whether recent strength can extend. Multiple charts highlight compression around $3,400 following a rebound from lower support. Near-term targets cluster around $3,700, while a failure risks renewed tests of the $3,200 area.
Ethereum Price Stalls at $3,400 Pivot
According to analyst TedPillows, the daily ETH against USDT structure shows range trading after a sharp drop from the $4,000 region. Ethereum price remains boxed between a green demand zone near $3,050–$3,200 and a red supply band around $3,700–$3,800. The $3,400 level sits at the midpoint of the range, where repeated reactions underscore its technical significance.
SOURCE: X
Recent candles show repeated tests of the upper range without a decisive close above $3,400. Two outcomes remain in focus. A reclaim would open a path toward the $3,700 band. A rejection would likely send the price back toward the $3,200 support.
Moreover, Ted noted that the inability to clear $3,400 keeps downside risk active. A failure here does not compromise the broader structure but rather prolongs the consolidation process. Conversely, a clean break would likely trigger broader altcoin participation, as ETH often leads directional shifts.
Ethereum Price Presses Into Resistance
Meanwhile, according to analyst Lennaert Snyder, lower-timeframe action shows a strong impulse from the $3,000 zone into a clearly defined weekly resistance. That zone, centered near $3,400, previously acted as a distribution level. As a result, it remains a natural zone for profit-taking and liquidity reactions.
The structure beneath price remains constructive. Higher lows formed during the advance, suggesting buyers continue to defend pullbacks. The analyst noted that ETH price tapped $3,400 and continued pushing, a behavior that often precedes either a breakout or a brief consolidation before continuation.
Additionally, the chart identifies liquidity below current levels, implying a short-term dip could occur without damaging the broader setup. As long as reclaimed support near $3,200–$3,250 holds, pressure remains skewed toward an upside resolution. This context frames a favorable risk profile for any continuation attempt.
Downtrend Pressure Meets Breakout Structure
Furthermore, a broader view from TedPillows places Ethereum price within a compressing structure. Price is coiling between descending resistance and a rising base, reflecting weakening bearish momentum without a confirmed trend change. Such formations often resolve with expansion once a boundary is reclaimed.
Ted’s projection emphasized ETH’s turn, aligning with recent strength across the market. A successful reclaim of the upper trendline would validate a breakout scenario and likely accelerate upside. In that case, the $3,700–$3,800 supply band becomes the next area of interest.
However, the chart also acknowledges ongoing risk. A failure to break higher could extend range trading or prompt a deeper test of lower demand. For now, the structure signals a decision point, with $3,400 acting as the final barrier between consolidation and continuation.
