Ethereum will regain $3,538 as RSI signal bounces from $3,248 support

• Ethereum is moving upwards with visible strength after bounces from key zones such as $3,033 and $3,248 support.
• The RSI breaks down the downtrend and shows signs of possible recovery on the 4-hour timeframe chart.
• The Fibonacci Zone is close to $3,515 and $3,033, and is still important as ETH pushes to $4,200 and then to $4,864.

Ethereum (ETH) continues to push towards $4,000 resistance after regaining $3,538 with a strong upward momentum from a low of $2,855. The widely tracked charts shared by Crypto Trader’s TommyJR project will further project upside down, with close respect for Fibonacci’s retracement level and dynamic RSI support. Market participants are currently looking at whether Ethereum can maintain its trajectory at $4,864.

Shift in key resistance levels and market structures

ETH regained critical territory after a sharp retracement from a local high, bouncing off a 0.236 Fibonacci level of nearly $3,515. Support area between $3,248 (0.382) and $3,033 (0.5 FIB) is crucial when retesting low prices. These zones have previously sparked demand and have shown strong buyers’ interest.

The broader market structure shows that Ethereum broke out from months of integration in early July. We saw a big breakout that surpassed the $3,095.75 horizontal resistance. This movement is consistent with validation of the uptrend structure drawn from the lows in April, showing an uptrend base.

Previous downtrends marked by the falling blue trendline were ineffective and a strong bullish continuation continued. Ethereum has skyrocketed in parallel with RSIs bouncing off the territory sold, and is currently stable around 46.08. This technical adjustment has led analysts to consider the possibility of continuing beyond $4,200.

RSI, Fibonacci, and Trendlines lead market expectations

Tommyjr, who shared the tech chart on X (formerly Twitter), said, “$eth Bang On → near resilient RSI level (4H).” The RSI is now forming a bullish divergence over prices. It is often an early reversal of the crypto market. The oscillators have disbanded due to a recent downward trend.

In addition to RSI support, the price is respecting the 0.382 level, close to $3,248. A drop below this could pave the way for $3,033 or $2,855.47. The $2,855 mark is considered the last base before the major trend is invalidated.

Meanwhile, the Fibonacci expansion shows Ethereum targeting $4,200 and $4,864 if bullish momentum resumes. On-chain traders have started speculation about institutional influx returning at these levels. The next 48-72 hours are important to check your setup.

The speculative curved trendline has also been well-respected since mid-May, leading Ethereum’s steady progress. The curve intersects near the $3,000 range and provides a confluence between Fibonacci levels and previous breakout support.

Social emotions and investors monitor zones

Social platform traders are closely watching Ethereum’s short-term moves. One user asked, “What happens if you touch the 2900?” Showing bearish scenarios remains part of the debate. Others maintained bullish outlook if key levels hold.

The chart, which has earned over 5,500 views, shows an extension that could reach $4,864. That level marks psychological and technical targets that match the blue price projection curve. Ethereum needs to maintain a strong purchase volume to approach this threshold.

The volume indicator remains neutral, suggesting that the market is waiting for further confirmation. If Ethereum cannot hold $3,248, the risk remains. Still, the short-term recovery to $3,600 has instilled hopes of a higher push.