Ethereum Price Prediction: ETH Faces Strong Resistance as 4-Hour Momentum Fades

Ethereum is currently hovering around the $2,950 mark and appears to be gaining some momentum on the micro timeframes. As noted in our previous analysis, Ethereum is trading below the crucial $3,050 support level and maintains an overall bearish structure. However, with Bitcoin experiencing a relief rally over the past couple of days, Ethereum has shown signs of life and is now positioned to retest $3,050 in an attempt to flip it back into support. Let’s examine the latest Ethereum charts to see where the price could be headed in the coming days.

Our Ethereum Price Prediction Summary

• Ethereum is currently facing rejection at the $3,050 resistance, which was previously a key support level.
• The overall market structure on daily and weekly charts remains bearish, characterized by lower highs and a lack of trend reversal signals.
• The $2,750 zone is the critical support to watch, as holding this level is necessary to avoid deeper selling pressure.

Analyzing the Charts

Rejection at Key Resistance

The latest 4-hour charts show Ethereum gaining momentum and retesting the $3,050 resistance level. This short-term relief rally was fueled by a bullish divergence on the 4-hour RSI, but the upward move has stalled upon hitting the $3,050 mark. Current price action suggests a rejection at this level, confirming that $3,050 has transitioned into a significant resistance zone. Despite this, the price has not entirely lost its momentum, and we will need to see a definitive rejection on the daily chart to confirm if this rally has fully exhausted itself.

Daily Outlook and Market Sentiment

On the 1-day timeframe, it is evident that Ethereum’s broader downtrend remains intact. While the price managed to reclaim the trendline support it lost earlier this week, the shift has yet to yield a significant change in market structure. The rejection at the $3,050 mark confirms that selling pressure is still concentrated at previous support-turned-resistance levels. Given that the recent price recovery was largely driven by Bitcoin’s temporary bounce rather than Ethereum’s own strength, a move toward the $2,750 level appears likely. How the price reacts to that support will be critical in determining the next major trend. For now, our Ethereum price prediction maintains a bearish bias as the downward momentum persists.

Macro Perspective and Long-Term Trends

Lastly, switching to the weekly chart provides a broader perspective on the macro downtrend that has persisted since last August and accelerated following the October correction. There has been no significant shift on the larger timeframes to suggest a trend reversal or even a sustained relief rally. However, the $2,750 support zone remains a critical level, having held firm through several tests while bears maintain their control. If Ethereum can hold above this floor in the coming weeks, it would be a constructive sign that may open the door for a relief rally in February. On the other hand, a break below $2,750 would likely invite intensified selling pressure and expose the market to deeper support levels.

Final Takeaway: What is Next for ETH?

Ethereum remains in a clear downtrend on the macro timeframes despite the minor momentum seen on the 4-hour charts. The rejection at $3,050 confirms that this level has transitioned into a strong resistance zone, limiting the impact of the recent relief rally. While reclaiming the previous trendline support is a minor positive, the price still appears heavy and likely to test the $2,750 support level soon. If this floor holds through the next few weeks, there is a possibility for a more sustained bounce in February. However, a failure at $2,750 would likely signal further decline and a continuation of the broader bearish trend.