Ethereum has climbed back above the $3,000 threshold, staging a convincing recovery after several days of choppy trading.
The move comes at a time when overall market sentiment remains deeply negative, Ethereum’s Fear & Greed Index sits at 15 (Extreme Fear) and only 40% of November’s trading days have been green. Yet the price action over the last 48 hours shows momentum turning in Ethereum’s favor.
A Break Above the 7-Day SMA Shifts Short-Term Momentum
The ETH/USD chart shows a steady climb beginning once Ethereum pushed through its 7-day simple moving average at $2,871. This level acted as dynamic resistance for most of the week. The moment ETH broke above it, the market saw a clear shift in tone: liquidity improved, sellers stepped back, and buyers took control.
That break coincided with a MACD bullish crossover, with the histogram rising to +2.32, signaling that downward momentum has faded. From there, Ethereum accelerated sharply, printing a strong leg higher into the $3,000–$3,050 zone and forming a cleaner higher-low structure than what traders saw earlier in the week.
On the chart, the rebound is visible as a fast vertical push from the low-$2,900 region, followed by steady intraday strength. Even dips on November 25 found support more quickly, indicating that buyer confidence has improved.
Indicators Still Flash Caution, but Price Action Stands Strong
Metrics paint a mixed backdrop: volatility remains elevated at 11.82%, the 4-day RSI sits at 38.5, and the current price near $3,036 remains below the longer-term SMAs at $3,393 and $3,591. Sentiment is still classified as bearish.
Despite this, Ethereum’s short-term trend has clearly improved. Historically, ETH often builds its strongest rebounds when market fear is at its peak, and the current environment reflects exactly that dynamic.
What to Watch Next
With Ethereum stabilizing above $3,000, the next area to monitor is whether the price can extend toward the 200-day SMA at $3,393. Reclaiming this level would add structure to the recovery and increase the probability of a sustained upside move.
For now, however, Ethereum’s ability to break above its short-term resistance and hold the $3,000 level is the most constructive signal traders have seen in days, especially in a market dominated by anxiety and extreme fear.