Ethereum is showing signs of a possible upward move as technical patterns and on-chain metrics converge near the $3,650 resistance level, with the price testing support around $3,000–$3,100 amid broader market volatility. Recent data from Glassnode and historical price studies point to growing optimism among long-term holders and institutional participants.
The chart is forming an ascending triangle, with higher lows converging toward a horizontal resistance; historically, ascending triangles have broken upward in roughly 68–77% of cases, though outcomes vary with market conditions and require strong trading volume to confirm. Analysts from Swallow Academy noted that buyers have maintained solid support near $3,100.
Key technical anchors include Ethereum holding above the 200-week moving average, with momentum to hold above the $3,025–$3,473 zone as it approaches $3,650. On-chain activity shows accumulation by long-term holders, who raised holdings to about 27 million ETH in 2025, underscoring growing confidence in longer-term upside. The daily RSI shows bullish divergence, supporting a cautious near-term upside. A decisive move above the triangle’s upper boundary near $3,200–$3,350 or above $3,650 could accelerate momentum, but past patterns are not guarantees.
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