$ETH 4H recovery momentum slowing down

$ETH is trading around 3,128 USD after a strong bounce from the lower support zone. However, the recovery is showing signs of slowing as price approaches key moving averages.

Key points:

Price is currently capped by the 200MA (orange), acting as major resistance around 3,200 – 3,250.

The 50MA and 100MA remain below price, maintaining short-term bullish structure.

Major support zone: 2,950 – 3,000, aligning with the ascending trendline and previous accumulation area.

Scenarios:

Bullish: If ETH holds the trendline and rebounds from 3,000, it could retest 3,250 – 3,300.

Bearish: Losing the trendline and the 3,000 level may open a move back to 2,850 – 2,900.

ETH is in a retest phase and needs a clear reaction from support before confirming the next direction.