ETH Holds Above $3,100 as Ethereum Maintains Breakout Structure

⬤ Ethereum’s showing some stability after pulling back from recent highs, holding firm above a well-defined mid support zone on the weekly chart. ETH found solid footing near the midpoint of a larger triangle formation—a level that’s now confirmed a higher low after the latest dip. Price is currently sitting just above the $3,100 mark.

⬤ The chart points to a persistent resistance zone near the upper range where several rallies have previously stalled out. Each time price got rejected from this area, pullbacks followed but eventually found buyers at increasingly higher levels. The most recent correction respected that mid support region around $2,800 to $3,000, reinforcing how technically relevant this zone remains.

The sequence of higher lows remains intact, and price action suggests buyers are stepping in earlier on declines compared with previous cycles.

⬤ Despite some choppy price action, Ethereum’s still trading within an ascending formation. That pattern of higher lows hasn’t broken, and buyers seem to be entering positions earlier during dips than they used to. ETH also remains above a previously broken downward trendline, suggesting the broader uptrend hasn’t reversed despite this consolidation period.

⬤ This consolidation matters for the wider crypto market since Ethereum often sets the tone for overall sentiment. Staying above mid support keeps the door open for another breakout attempt toward prior highs. A clean move above the upper resistance range would clear the path toward new peaks, while dropping below support could drag out this consolidation phase. Near-term momentum will likely hinge on how ETH responds around these clearly marked technical levels.