ETH Technical Outlook: Ethereum Attempts Base Formation Below Key Fibonacci Resistance
Ethereum remains in a corrective recovery phase after a sharp decline from the $4,800–$4,900 macro high, with price now attempting to stabilize above short-term demand following an extended downtrend. Despite recent improvement, ETH continues to trade below major Fibonacci resistance and long-term moving averages, keeping the medium-term structure neutral-to-bearish.
Price is currently consolidating above the $3,150–$3,050 demand zone, which has acted as a short-term accumulation base after the November–Dece