Ethereum has rebounded forcefully, gaining 7.35% intraday to trade near $2,442, up $167 from the previous day according to TradingView’s Binance ETH/USDT chart. The move followed a period of pressure around the 0.500 Fibonacci level near $2,154 and the 200-day simple moving average, with ETH briefly dipping to $2,226 before climbing through the broken zone.
Key technical levels are now in focus. The daily candle cleared the 100-day SMA at $2,359 and stopped just below the 0.236 Fibonacci retracement near $2,497, where the 50-day SMA at $2,509 lies only $12 away. The 14-day RSI jumped to 55.57, crossing above both the 50 midline and its signal line, after nearing oversold territory in late October.
Spot ETH ETFs have lost $656 million across seven consecutive sessions, adding a cautious institutional backdrop to the rally. Analysts note that a daily close above $2,510 would clear both the 0.236 level and the 50-day SMA, opening the path toward the $2,700 consolidation area and the cycle peak around $2,803. A rejection inside the $2,495–$2,515 band could instead create a lower high and send ETH back toward $2,307 or the $2,154–$2,158 support cluster.
For now, the rebound is constructive but unconfirmed. Holding above the $2,307–$2,359 zone would keep a second attempt at $2,500 alive, while a daily close below $2,226 would cancel the rebound structure.
