Ethereum finally made a critical move after weeks of sideways integration, surpassing serious resistance and breaking the deal beyond the psychological $3,000 level. This surge attracted the attention of both spot buyers and derivative traders, pushing ETH into key technical and chain inflection points.
The breakout coincides with growing market interest, but the sustainability of this move now depends on how prices respond to key supply zones in the coming days.
Technical Analysis
Shayan Market
Daily Charts
In the daily time frame, ETH broke above the $2,800 resistance level, wiping away previous highs and regeneration areas that were last traded in early 2025. This is a 100- and 200-day moving average, near the $2,300 and $2,500 marks, respectively, well below the price.
This will provide you with strong upcoming trends and dynamic support. The recent breakout also neglected previous liquidity hunts of nearly $2,900, suggesting authentic purchasing pressures rather than just a stop run. Clean daily closures of over $3,000 further strengthen bullish cases.
That said, the price is currently pushed towards a wider resistance block for $3,400. If buyers want to maintain momentum, retesting the $2,800 zone should be held as new support. If you don't keep this level, you could be corrected towards the 200-day moving average. Until then, momentum favors advantages.
4-hour chart
Zooming into the 4H chart, ETH shows a strong impulsive structure, leaving multiple imbalances and fair value gaps while pushing through the $2,800 resistance zone. The move also cleared the liquidity zone of previous buybacks and examined changes in bullish market structure. The current leg has created an upward imbalance that could act as a magnet for a short-term pullback if the buyer began to make a profit.
The ideal scenario for continuity is a controlled retracement to the $2,850-2,900 range, forming a higher or lower, ensuring that demand is still under control. As the pullback gets deeper, the fair value gap in the $2,700 zone provides another layer of support. As long as prices remain above this zone and maintain a higher low, the bullish market structure remains intact.
Emotional analysis
Ethereum open interest
Open interest across all Ethereum exchanges has reached a new high of $22.6 billion, but prices are slightly above the $3,000 mark. Without a similarly aggressive price movement, this sharp rise in open interest indicates a surge in leveraged positioning. Such behavior often precedes volatility. This is because busy transactions can cause liquidation on both sides if prices change rapidly.
While increasing open interest may support continuity when supported by genuine spot demand, the risk of short-term corrections also increases. If this open interest is excessively long, the pullback could force a wave of liquidation and quickly return prices to key support levels.
Overall, the surge in open interest reflects an increase in market participation, but also suggests that ETH may be approaching the point where leverage becomes a double-edged sword.
