Ethereum Price Stuck at $3,100

Ethereum's price increased by more than 2% a day and reached the $3,100 level again during the day, although the volatility remains exceptionally low.

ETH has been trading sideways for the last few sessions, taking in supply but not giving up its $3000 support level. The way prices are moving right now suggests that they are coiling up rather than getting tired. The $2900 to $3400 range in the immediate term is significant for big price changes in the future.

Ethereum (ETH) stayed around $3000 on the daily chart, but it faced immediate resistance at $3200. However, the chart structure is bullish, indicating a good chance that the price will increase significantly over the next few sessions, potentially reaching $4800.

Ethereum (ETH) stayed around $3000 on the daily chart

The weekly chart reinforces the bullish argument. The analyst's report stated that ETH appears to be developing an inverse head-and-shoulders pattern, with the price remaining close to the top volume shelf.

When this pattern is confirmed, it usually means that the market is about to turn bullish. A clear weekly closing over $3400 might confirm the structure and send ETH even higher.

However, if ETH drops below $2,900, the bullish thesis will no longer be viable, and ETH will be more likely to correct significantly.

ETH's market value is still behind the expansion of the Ethereum economy, which is a sign of confirmation. The measurements that compare fully diluted valuation to on-chain activity and TVL reveal that the difference is getting bigger. This means that the price has not yet fully reflected the network's economic throughput.

This difference strengthens the case that ETH's current correction is occurring due to structural undervaluation, rather than poor fundamentals.

At the same time, liquidation map data indicates that a significant number of short positions are leveraged above the current price level of $3,100. An increase of only 10 to 12 percent would be enough to lock billions of short bets, which might speed up bullish momentum.

From a network perspective, ETH's active addresses and transaction activity have stabilized, which supports the idea that Ethereum's core use remains robust.
Ethereum's price is coiling above $3000, and price compression, mounting liquidation pressure, and undervaluation on the blockchain all indicate a possible increase in volatility.
A clear break above $3400 would strengthen the bullish case, while a drop below $2900 could trigger selling pressure in the future.