Ethereum Price Prediction: ETH Price Holds $2,900 Support as Cup-and-Handle Signals Relief Rally Toward $3,300 and $5,000

After several weeks of declining momentum, recent price action suggests selling pressure may be moderating rather than accelerating. Ethereum price today is holding near $2,960, and technical structures across multiple timeframes are beginning to show signs of balance returning, prompting analysts to reassess short-term direction without assuming a confirmed trend shift.

Ethereum Price Finds Stability Near Key Support

Recent Ethereum price analysis shows that the $2,900 area has repeatedly absorbed sell-side pressure across multiple timeframes. Reviewing Ethereum’s daily and 4-hour charts, selling volume has declined noticeably since the most recent retest of this zone, while bid depth on major exchanges have remained relatively stable. Historically, this combination has preceded short-term relief rallies rather than immediate trend reversals.

CryptoGerla flagged $2,900 as key ETH support amid capitulation, with traders split on a potential near-term rebound. Source: Gerla via X

CryptoGerla, a market commentator known for technical chart analysis, described the recent move as characteristic of capitulation conditions. “$ETH will bottom out soon. Relief rally is coming,” he wrote, citing demand reactions on the ETH/USDT daily chart.

Market data provides partial support for this view. During the latest sell-off, Ethereum saw more than $576 million in liquidations, reflecting forced position closures rather than sustained discretionary selling. Such events often coincide with short-term exhaustion, though they do not guarantee durable bottoms.

Despite the stabilization, traders remain cautious. A sustained failure to hold above current eth price levels could still result in extended consolidation, particularly if broader market sentiment weakens.

Ethereum Technical Analysis Highlights Reversal Structures

Beyond horizontal support, Ethereum’s technical analysis indicates early-stage reversal formations on lower timeframes. One pattern gaining attention is an inverted head-and-shoulders structure developing near the $3,000 neckline.

ETHUSD shows an inverted head-and-shoulders pattern near $3,000, with bullish breakout targets at $3,110–$3,258. Source: Jos-ProTrader on TradingView

This pattern is typically interpreted as a potential trend reversal signal, but its reliability depends on confirmation. Specifically, a decisive close above the neckline accompanied by expanding volume is required to validate the setup. Without this confirmation, the formation remains vulnerable to failure, particularly in range-bound markets.

Short-term resistance levels derived from this structure cluster near $3,110, $3,153, and $3,258. These levels represent projected reaction zones rather than guaranteed targets. Their relevance lies in helping traders identify where momentum may stall or accelerate, reinforcing the importance of confirmation over assumption.

Cup-and-Handle Formation Points to Higher Targets

On higher timeframes, analyst James Easton highlighted a potential cup-and-handle formation on the ETH/USD chart extending into mid-2026. Easton, who focuses primarily on long-term technical structures, suggested that the pattern could indicate continuation rather than a short-lived bounce.

JamesEastonUK’s chart indicates a potential ETH cup-and-handle formation, signaling a bullish breakout above $5,000 following a $3,000 consolidation. Source: James via X

“It is not unreasonable to think that $ETH looks like this in the not-so-distant future,” Easton commented, referencing a scenario in which Ethereum challenges the $5,000 level.

However, cup-and-handle formations are probabilistic tools, not predictive guarantees. Their success rate improves when breakouts occur alongside rising volume and broader market participation—conditions that Ethereum has not yet fully demonstrated. Analysts therefore emphasize that the pattern remains conditional, with $3,300 acting as a critical intermediate resistance that must be reclaimed before higher projections become technically relevant.

Momentum Builds Toward the $3,300 Resistance Zone

Short-term momentum indicators show Ethereum gradually reclaiming ground above $3,000, an area that previously capped multiple recovery attempts. Intraday charts reveal a sequence of higher lows, suggesting that downside pressure may be weakening rather than accelerating.

CryptoTony__ notes ETH near $3,060 resistance, with bullish momentum aiming higher as price trades around $3,010. Source: Crypto Tony via X

From a structural perspective, sustained strength above $3,200 would serve as confirmation that buyers are gaining control. A clean move above this level could increase the probability of a test of the $3,300 resistance zone, which has consistently limited upside since mid-2025.

Conversely, a breakdown below $2,950 would invalidate the short-term bullish bias and reopen the risk of renewed tests of lower demand zones. This clear invalidation level provides traders with defined risk parameters rather than open-ended speculation.

Broader Market Context and Outlook

Ethereum news today reflects a market balancing cautious optimism with unresolved macro uncertainty. While longer-term narratives—such as institutional adoption and Ethereum ETF developments—remain relevant, near-term price movement continues to be driven primarily by technical positioning and liquidity conditions.

Ethereum was trading at around 2,963.26, down 2.20% in the last 24 hours at press time. Source: Ethereum price via Brave New Coin

At present, the current ETH price behavior aligns more closely with consolidation than confirmed breakout dynamics. Analysts broadly agree that Ethereum must demonstrate sustained acceptance above resistance before a trend reversal can be established.

For now, Ethereum appears to be stabilizing rather than accelerating. The defense of $2,900 support, combined with emerging—but unconfirmed—reversal structures, supports the case for a potential relief rally toward $3,300. Higher levels, including $5,000, remain longer-term technical possibilities contingent on confirmation rather than immediate expectations.