Ethereum Price Analysis: Short-Term Bounce Tests Resistance at $3,300

Summary:
Ethereum (ETH) has been gradually recovering since the beginning of 2026, with recent price movements suggesting a stabilization around key support levels. Despite attempts to break higher, significant resistance remains near $3,400. Momentum indicators show improving conditions, but risks persist regarding the network's stability if prices fall sharply.

Key Takeaways

Recovery Phase: Ethereum has bounced back from recent lows, trading within a short-term upward range.
Resistance Level: Key resistance is noted near $3,400–$3,500.
Support Levels: Strong support is found at $3,000 and further down at $2,800.
Market Indicators: The RSI indicates neutral-to-positive momentum, and the MACD shows potential for gradual upside.
Structural Concerns: A study from the Bank of Italy highlights risks related to sharp price drops affecting network functionality.

Ethereum has been on a slow recovery path since the beginning of 2026. On January 6th, ETH made an attempt to break above the $3,350 mark but could not maintain that level, leading to a minor pullback and some consolidation. However, recent price movements indicate stabilization rather than ongoing weakness, with buyers actively supporting the $2,900–$3,000 range, which has proven to be a solid foundation during several pullbacks.

Today's trading session reflects this steady behavior. Ethereum dipped as low as $3,127.13 before rallying to an intraday high of $3,357.75. The repeated failures to breach the $3,400 mark suggest that this remains a significant resistance area.

ETH Price Analysis: Intraday Bounce Tests Resistance Near $3,300

Ethereum's Short-Term Recovery Outlook

Analyzing the trend, ETH is currently trading within a short-term upward range, which is not characterized by a particularly strong trend. The short-term moving averages are beginning to slope upward, and the price is now slightly above these averages, indicating a potential improvement in near-term momentum. However, since ETH is still trading below its longer-term moving averages, it shows that the overall market sentiment has not fully transitioned back to a strong bullish posture.

Ethereum Technical Indicators
(Source: TradingView)

Momentum indicators further back this assessment. The Relative Strength Index (RSI) on the daily chart hovers in the mid-to-high 50s, suggesting neutral to positive momentum without venturing into overbought territory. At the same time, the MACD has turned positive, with the signal lines moving upward; this often signals potential for further consolidation or gradual upward movement, assuming trading volume remains steady.

Ethereum Price Resistance
(Source: TradingView)

Key resistance levels are identified around $3,400–$3,500, where ETH previously encountered selling pressure. A sustained break above this range will be necessary to enhance short-term bullish sentiment. On the downside, $3,000 stands as a vital support level, with deeper support located around $2,800, a zone that has previously attracted buyers. Overall, the ETH price chart suggests a cautious recovery rather than a decisive shift in trend direction. Maintaining levels above key support might facilitate further consolidation.

In addition to price fluctuations, Ethereum faces structural challenges. A recent study from the Bank of Italy highlighted potential risks, warning that a significant and prolonged decline in ETH prices could impair the network's functionality. This situation could freeze over $800 billion in assets linked to smart contracts, decentralized finance (DeFi) protocols, and tokenized assets.