Ethereum (ETH) is gaining momentum today as buying activity increases, helping it test resistance levels in the short term. Market participants are somewhat optimistic about Ethereum, as analysts are advising patience rather than chasing breakouts.
At the time of writing, Ethereum is trading at $2,175, with a 24-hour trading volume of $36.63 billion and a market capitalization of $259.91 billion, according to CoinMarketCap. Over the last 24 hours, ETH has increased by 9.62%, reflecting a surge in market activity.
Source: CoinMarketCap
Ethereum Price Hits Critical Zone
On March 4, 2026, crypto analyst Alpha Crypto Signal highlighted that Ethereum was approaching the upper boundary of its current trading range.
Alpha Crypto Signal noted that, while the retail community was becoming more active, it would be better for traders to wait for the price to pull back into a strategic entry zone before entering the market.
Source: X
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Ethereum Tries to Rebuild Momentum
The Relative Strength Index (RSI) is increasing and is now at 53.82, above its signal line of 39.34. This is an indication of increasing buying pressure. However, there are hurdles to the overall trend.
Examining moving averages, Ethereum is still below the 20-day simple moving average at $1,984.39, the 50-day simple moving average at $2,380.16, the 100-day simple moving average at $2,714.80, and the 200-day simple moving average at $3,370.68.
Source: TradingView
The MACD is positive as indicated by the line at 46.76, which is above the signal line at -75.17. The histogram is at +121.94, which indicates that there is increased bullish momentum. In order to experience a trend reversal, Ethereum needs to break its moving averages.
Ethereum’s recent short-term bounce is a positive sign, but investors are paying close attention to see if the price can break through the technical resistance levels, which could lead to higher price movements in the coming weeks.
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