Ethereum moved higher after rebounding from a higher-timeframe support zone near $2,900, according to a six-hour ETH/USDT perpetual chart shared by CryptoPatel on TradingView on January 14. Binance data showed Ethereum trading around $3,340 after briefly reaching $3,383.
This move marked a clear recovery from recent lows and followed weeks of compressed price action. The rebound began from the $2,891 to $2,900 area, which had acted as demand since late November. Buyers defended this zone multiple times. As prices lifted, Ethereum formed a series of higher lows along a rising trendline.
This structure replaced the earlier downtrend that controlled price action through October and early November. CryptoPatel noted that Ethereum gained about 15% from the demand-zone entry, describing it as a confirmed breakout supported by improving structure above key levels.
Earlier trading showed Ethereum capped by a descending resistance line that extended from highs above $4,200. That line rejected several rallies before the prices compressed beneath it. Over time, selling pressure eased, and buyers pushed it higher.
Ethereum later broke above the descending trendline. The move ended a prolonged corrective phase. Prices then pulled back toward the $3,000 to $3,050 range, which had acted as resistance during the prior decline.
The chart marked this pullback as a successful retest. Buyers stepped in again and defended the level, a reaction that confirmed a shift in control toward the upside as former resistance turned into support.
From the $2,900 demand zone, Ethereum advanced by about $491. The chart measured the move at roughly 16.99%. The rebound showed steady follow-through rather than sharp spikes, suggesting controlled participation.
Despite the recovery, overhead levels remain in view. Horizontal resistance zones sit near $3,651 and $4,247. These areas limited price advances earlier in the cycle and may influence near-term trading behavior.
At the time of the snapshot, the six-hour candle showed a modest gain near 0.5%. Price actions suggested consolidation above support rather than aggressive selling as Ethereum held above the reclaimed structure.
Alongside market movement, Ethereum infrastructure developments drew attention. ETHGas announced its governance token, GWEI, while outlining a related community airdrop. The project linked the rollout to its plan to support what it calls Realtime Ethereum.
The team stated that Ethereum remains the most reliable settlement layer in the crypto market. At the same time, execution demands now exceed existing allocation systems. According to ETHGas, gas auctions continue to create delays and unstable fees during peak usage.
ETHGas plans to treat blockspace as a reservable resource rather than a byproduct of gas pricing. The protocol aims to allow applications to secure execution in advance, reduce exposure to mempool congestion, and support faster user interactions across the network.
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Ethereum rebounded from the $2,900 demand zone and reclaimed $3,000 after a confirmed breakout and retest. Prices now consolidate above key support as resistance levels remain overhead. At the same time, ETHGas introduced the GWEI token to address blockspace efficiency and execution delays.