Ethereum price analysis (Bullish) — 2945.92 USDT (+0.83% 24h)

Ethereum continues to show resilience in current market conditions, trading at $2,945 with a modest 0.83% gain over the past 24 hours. The technical picture reveals a cautiously optimistic setup – ETH is trading above both its 20-day SMA ($2,934) and 50-day SMA ($2,908), indicating underlying strength in the medium-term trend. The RSI reading of 53 suggests the asset is neither overbought nor oversold, leaving ample room for movement in either direction. Trading volume remains healthy at $1.28 billion, providing sufficient liquidity for significant moves. The 4.5% volatility reading indicates typical crypto market conditions without excessive price swings. For traders, current levels offer potential entry opportunities with tight stop losses below the $2,900 support zone. A decisive break above $2,950 could trigger momentum toward the $3,000 psychological level, while failure to hold $2,900 might see a retest of lower support areas. Position sizing remains crucial given the inherent volatility.