Ethereum price analysis (Bullish) — 2921.47 USDT (+2.95% 24h)

Ethereum shows resilience as ETH/USDT trades at $2,921, posting a solid 2.95% gain over 24 hours with robust $1.75B volume. The current price sits just above the 20-day SMA ($2,914) while maintaining a comfortable cushion above the 50-day SMA ($2,858), indicating underlying strength in the medium-term trend. The RSI reading of 44 suggests ETH is approaching oversold territory but hasn’t reached extreme levels, leaving room for further upside. With volatility at 4.56%, traders should expect continued price swings. The convergence above key moving averages coupled with strong volume support suggests accumulation is occurring. For traders, consider buying dips toward $2,880 with stops below $2,850, targeting resistance near $3,000. Position sizing should account for the elevated volatility, and traders might consider scaling into positions given the technical setup favors gradual appreciation rather than explosive moves.