From Bear Trap to Breakout? Ethereum (ETH) Tests a Crucial Momentum Shift After a 7% Jump

TheNewsCryptoPublished on 2026-03-12Last updated on 2026-03-12

Abstract

The cryptocurrency market experienced a bullish surge of nearly 5%, with Ethereum (ETH) rising over 7.5% in 24 hours, reaching a high of $2,198 after a low of $1,963. Trading volume increased by 40%, reaching $33.39 billion, though the market saw $155 million in liquidations. ETH is testing resistance at $2.2K, with potential to form a golden cross if bullish momentum continues. Support lies near $2,000, with risks of a death cross if bears regain control. Technical indicators are positive: the MACD shows strong bullish momentum, the Chaikin Money Flow indicates moderate buying pressure, and the RSI at 63.12 suggests further upside potential. The Bull Bear Power value of 117.90 reflects strong bullish dominance, though conditions may be overextended. Overall, Ethereum shows signs of a potential breakout if current momentum holds.

A 4.96% bullish surge in the crypto market has lifted the digital assets up to their recent highs. With the Fear and Greed Index value at 29, the fear sentiment is lingering. The largest asset, Bitcoin (BTC), has climbed to $72K, and the largest altcoin, Ethereum (ETH), has gained by over 7.51% in value in the last 24 hours.

ETH has traded at a low of $1,963 in the early hours. With the bulls taking control, the price has jumped to a high of $2,198. If this recovery persisted, the asset would see more gains. Ethereum traded at $2,114, with its trading volume soaring by 40.16% to $33.39 billion. Also, the ETH market has seen a liquidation of $155.29 million.

The trading pattern of Ethereum unveils a bullish trend, and the price might climb to the resistance at the $2.2K level. Upon breaking further on the upside, the bulls would trigger the emergence of the golden cross, and gradually send the asset’s price higher.

If the bears entered the Ethereum market, the immediate support level might be found at around $2K. With the downside correction gaining more traction, the death cross could take place. The potential bears may drive the price even lower to its recent lows.

Bullish Momentum Builds for Ethereum as Indicators Turn Positive

Ethereum’s Moving Average Convergence Divergence line is above the signal line, indicating strong bullish momentum. The recent price strength is running ahead of its usual average. As long as the MACD remains above, the bullish structure is likely to continue.

Besides, the Chaikin Money Flow (CMF), which assesses the capital flow into the asset, is found at 0.13, suggesting moderate buying pressure. Notably, it is attracting a steady inflow of capital. With accumulation taking place for ETH, buyers are more active than sellers.

The daily Relative Strength Index (RSI) at 63.12 implies a modest but strong bullish sentiment, with the buyers maintaining control of the trend. Ethereum has more room on the upside, and if it continues moving to 70, bullish momentum could strengthen further.

Moreover, ETH’s Bull Bear Power (BBP) value of 117.90 hints at strong bullish dominance. The price is trading above its average level, reflecting a powerful uptrend and strong buying interest. Significantly, this might signal overextended conditions.

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Related Questions

QWhat is the current Fear and Greed Index value mentioned in the article, and what sentiment does it indicate?

AThe Fear and Greed Index value is at 29, indicating a lingering fear sentiment in the market.

QWhat are the key resistance and support levels for Ethereum's price discussed in the article?

AThe key resistance level is at $2.2K, and the immediate support level is found at around $2K.

QWhich technical indicator is cited as being above its signal line, indicating strong bullish momentum for Ethereum?

AThe Moving Average Convergence Divergence (MACD) line is above the signal line, indicating strong bullish momentum.

QWhat does the Chaikin Money Flow (CMF) value of 0.13 suggest about the market for Ethereum?

AA CMF value of 0.13 suggests moderate buying pressure and a steady inflow of capital into Ethereum.

QAccording to the article, what could the Bull Bear Power (BBP) value of 117.90 potentially signal about the current price trend?

AThe BBP value of 117.90 hints at strong bullish dominance but might also signal overextended conditions.

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