$ETH is holding above a rising daily trendline while trading below major horizontal resistance near 3,400. The recent rejection from that level keeps ETH in a consolidation phase rather than a confirmed breakout.

As long as ETH holds the 2,900–3,000 support zone, the broader structure remains constructive. A daily reclaim above 3,400 would be needed to confirm upside continuation. Loss of trendline support would increase downside risk.