#WeekendMarketAnalysis Ethereum ($ETH) is showing a mixed but constructive signal as the market enters a new liquidity cycle, with buyers defending the 3,100 support and gradually absorbing sell pressure. Momentum indicators are stabilizing.

On the four hour chart, price is forming higher lows near the 50 EMA while trading volume remains moderate and funding rates stay neutral. This structure suggests accumulation rather than distribution.
Key resistance stands around 3,350 where previous rejections occurred and a daily close above this zone could trigger short liquidations. Bulls need follow through candles.
If Ethereum breaks higher, the next targets appear at 3,520 and 3,680 based on Fibonacci extensions and order book gaps. Open interest would likely expand.
On the downside, losing the 3,100 level may invite a retest of 2,980 which aligns with the weekly pivot and strong spot demand. Risk managers are watching this area.
Market sentiment across derivatives has improved after several sessions of negative funding and the put call ratio is cooling. Whales continue small accumulation.
Network fundamentals also support the signal as gas usage rises and layer two activity reaches new monthly highs. ETF narrative adds confidence.
Traders should still respect volatility because macro headlines, dollar strength and equity correlation can quickly change the technical picture and invalidate breakout plans. Using stop losses below structure remains essential for survival in leveraged markets.
Overall the Ethereum signal leans cautiously bullish with probability favoring a test of upper resistance if Bitcoin holds steady and no major regulatory shock appears in coming days. Scalpers may trade the range meanwhile investors can scale gradually. Patience discipline and confirmation matter most. Watch volume spikes carefully always.$ETH