Ethereum price prediction: Buyers defend trendline as $3,900 breakout test approaches

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Ethereum holds near $3,590

Highlights

- Ethereum trades near $3,590 after rebounding from trendline support.

- Spot inflows of $127 million signal renewed accumulation.

- A breakout above $3,900 could open upside toward $4,800–$5,000.

The broader chart now reflects a standoff between long-term bullish structure and short-term resistance pressure.

Buyers defend the trendline

On the daily chart, Ethereum is coiling inside a symmetrical triangle, reflecting tightening volatility between lower highs and a rising base. The 20-day EMA at $3,692, 50-day EMA at $3,887, and 100-day EMA at $3,906 are layered overhead, forming a clustered resistance zone that bulls must clear to confirm any breakout. Until price moves decisively above these averages, rallies remain corrective within a consolidation phase.

ETH price dynamics (Source: TradingView)

Momentum remains constructive, however. The ascending trendline continues to serve as reliable support, with each test met by strong buying. The recent intraday reclaim of the trendline underscores the resilience of this level and highlights that structural buyers have not exited the market.

On-chain flows show quiet accumulation

While the chart consolidates, underlying flows tell a stronger story. According to Coinglass, Ethereum recorded $127 million in spot inflows on November 10, one of the largest since August. Such inflows represent accumulation rather than distribution, suggesting that institutions and large traders are positioning ahead of an expected volatility breakout. In prior cycles, similar flow behavior has preceded multi-week upside rallies.

On the 4-hour timeframe, Ethereum has broken above a descending channel and reclaimed the Supertrend level at $3,555, turning it into intraday support. RSI has normalized near neutral, providing room for continuation. This setup indicates that selling pressure is easing and that bulls are regaining short-term control.

If price sustains above $3,555, the next hurdle sits between $3,700 and $3,900, a confluence of EMAs and horizontal resistance. A daily close above $3,900 completes the triangle breakout, targeting $4,400 initially, followed by a measured move projection around $4,800–$5,000.

Key levels to watch

Should sellers regain momentum, the first support rests at $3,500, followed by the broader demand pocket near $3,250–$3,300, where the 200-day EMA aligns. Holding this level would preserve the long-term bullish structure.

For now, Ethereum remains in a tightening range, but accumulation and technical positioning favor eventual upside. A confirmed breakout above $3,900 could reestablish trend momentum and put the next leg of the rally in motion.

Earlier coverage noted Ethereum’s resilience around the $3,300–$3,350 region, which repeatedly served as a liquidity shelf since mid-year. The latest reaction confirms that this demand base continues to attract buyers, aligning with the broader uptrend. As long as Ethereum holds above the trendline and spot inflows stay positive, the bias remains toward a bullish continuation once resistance gives way.

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