ETH Price Eyes $3,400 as Buying Pressure Builds Near $2,800

• Ethereum’s accumulation zone between $2,400 and $2,800 signals strong buying interest, supporting a potential breakout.
• ETH’s price structure suggests an uptrend, with key resistance at $2,800 and a target of $3,400 if momentum holds.
• Technical indicators, including RSI, hint at a bullish breakout, with traders eyeing $3,200–$3,800 if ETH clears resistance.

Ethereum (ETH) continues to hover within a key accumulation zone , showing signs of renewed strength. ETH currently trades near $2,710, marking a 1.48% daily increase. Despite a sharp red candle earlier, buyers are stepping in. The buy zone between $2,400 and $2,800 remains a critical support region. Market participants anticipate an upward move if ETH maintains momentum.

Ethereum Retests Key Buy Zone

ETH’s recent dip saw a strong rebound from the lower range of the accumulation zone. Historically, Ethereum has found support at this level before pushing higher. The $2,800 has served as a critical buying level, where ETH has bounced multiple times. This area has been defended, indicating strong demand. The market structure suggests accumulation, which could drive prices higher in the coming sessions.

Besides, historical price action shows that ETH had been having a tough time finding resistance at $3,600 before reversing. By trendlines, ETH has noticed a prior descending pattern, in which it has tried to break free a couple of times. The macro uptrend remains intact, supported by ascending trendlines. If ETH could break above immediate resistance, it may head to $3,400, where selling pressure has previously appeared.

Multi-Year Range Suggests Imminent Breakout

ETH remains within a multi-year range , indicating potential for a breakout. A recent test of an ascending support line resulted in a swift rebound. If Ethereum clears this level, the next targets lie between $3,200 and $3,800.

Moreover, technical indicators support a bullish scenario. Once the monthly Relative Strength Index (RSI) crosses 70, a stronger uptrend may unfold. Historically, ETH has rallied after such breakouts. Consequently, traders anticipate a sustained push higher , with long-term investors accumulating positions.

However, resistance zones remain crucial. Ethereum breaks $2,800 for bullish momentum to strengthen. Volume data shows stable trading activity, further supporting potential upside. If buyers maintain control, ETH could revisit $3,400 in the short term.