"Ethereum volatility compresses near $3,100…signaling an imminent directional move"
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Summary
- Ethereum has entered a compression zone near $3,100, where its price range is narrowing, raising expectations of an imminent major short-term move.
- If the $3,080–$3,120 support zone holds, pressure could build toward a break above overhead resistance.
- Conversely, if the uptrend line breaks, the market could shift its focus back to a range-bound move or a corrective phase.
As Ethereum (ETH) enters a phase of narrowing price swings without a clear trend, analysts say a major short-term move may be imminent. Recent price action has been quiet, but the technical setup is seen as accumulating energy.
According to TheNews, a cryptocurrency-focused media outlet, on the 12th, Ethereum has been building a support base around $3,100 after a sharp drop earlier this month. The price has repeatedly rebounded above an upward trendline, while being capped by a descending resistance line overhead, gradually tightening the range.
Recent trading has seen limited ups and downs. A notable feature is that each pullback has attracted buying earlier than before, pushing the lows gradually higher. Trading volume has also declined, reinforcing the view that the market is in a wait-and-see phase rather than dispersing.
The market sees the current action as a textbook “compression zone.” With highs capped but lows rising, a decisive move in either direction could trigger a sharp swing.
Crypto trader Gainmuse said, “After breaking out to the upside from a short-term range, Ethereum is holding above that zone,” adding that “as long as the uptrend line holds, the technical structure remains constructive.”
The key level is the $3,080–$3,120 zone. If this support holds, pressure could continue to build toward a break above overhead resistance. Conversely, if the uptrend line breaks, attention could shift back to a range-bound market or a corrective phase, analysts said.
While Ethereum is not showing a large move immediately, the market is watching closely for signs that its price structure could reveal a direction soon.
