Ethereum lost the critical $3,000 level on Sunday, sliding toward $2,800 and triggering a new wave of fear across the market. The drop highlights a deepening corrective phase that has pushed short-term investors into heavy unrealized losses, prompting many to reassess their risk exposure. Related Reading: Bitcoin Must Break Key Supply Clusters To Regain ATH Momentum – Watch These Levels Adding to the uncertainty, fresh on-chain data has revealed renewed distribution from major holders. According to data from Arkham, shared by Lookonchain, the well-known whale 0xdECF deposited another 5,000 ETH—roughly $15.05 million—into Binance. This move expands a pattern of consistent selling pressure from large wallets, often seen during heightened market stress. While one whale does not define the broader trend, these deposits usually reinforce bearish sentiment among traders who monitor exchange inflows as a proxy for potential sell-side liquidity. Whale Distribution Deepens Amid Broader Market Anxiety Since October 28, the same whale wallet has accelerated its selling activity, unloading 25,603 ETH—approximately $85.44 million—across Binance and Galaxy Digital. Despite this aggressive distribution, the wallet still holds 10,000 ETH valued at roughly $30.34 million, leaving open the possibility of continued sell pressure if market conditions weaken further. Large-scale movements like these often signal a shift in sentiment from sophisticated holders who tend to anticipate volatility earlier than the broader market. This selling spree comes at a moment when confidence is already fragile. The recent Tether FUD, fueled by speculation around reserve transparency and potential regulatory scrutiny, has added stress to liquidity conditions. Meanwhile, renewed headlines about a supposed China Bitcoin ban have resurfaced on social media, amplifying fear across both retail traders and short-term investors. Although neither narrative reflects new fundamental risks, emotional markets often react sharply to sensational news during corrective phases. Related Reading: Bitcoin STH Loss Transfers Fall 80% From Peak – What Comes Next? Together, these factors create a backdrop where whale distributions gain outsized influence. If the remaining 10,000 ETH enters exchanges, it could deepen short-term downside pressure. Conversely, a pause in selling may suggest that the whale views current levels as near-capitulation territory, offering a potential floor for stabilization. Ethereum Price Tests Support as Downtrend Remains Intact Ethereum’s 4-hour chart shows a market still struggling to regain momentum after losing the $3,000 handle. The broader structure remains decisively bearish, with price trading below the 50 SMA, 100 SMA, and 200 SMA—a clear indication that sellers continue to control the trend. Each attempt to recover above the moving averages has been rejected, reinforcing the downtrend that began in late October and has continued through November. The recent bounce from the $2,750–$2,800 support zone shows that buyers are defending this level, but the reaction lacks conviction. Volume remains muted, and the latest attempt to reclaim $3,000 quickly failed, forming another lower high. This signals hesitation and suggests that bulls are not yet strong enough to shift market structure. Related Reading: XRP Reserves On Binance Collapse To Record Lows: Investors Move Toward Long-Term Holding The compression seen toward the end of the chart formed a small symmetrical triangle, but the breakdown that followed confirms that sellers still dominate short-term momentum. As long as ETH remains below the 200 EMA—now near $3,350—the macro trend favors continuation to the downside. If $2,800 breaks cleanly, the next liquidity pockets sit around $2,600 and $2,450, levels that could attract stronger buyer interest. For now, Ethereum must reclaim $3,000 with sustained volume to neutralize bearish pressure. Featured image from ChatGPT, chart from TradingView.com
The firm increased the pace of purchases from the previous week despite sitting on large unrealized losses on its ether bet.
Major cryptocurrencies traded lower in early Asia as DeFi platform Yearn noted at "incident" in its yETH pool.
The goal of the upgrade is to enable Ethereum to handle the large transaction throughput from the layer-2 chains that use the blockchain as their base layer.
In the rapidly evolving landscape of digital finance, Ethereum is quickly establishing itself as the primary infrastructure for global on-chain capital markets. From tokenized bonds and money market funds to institutional liquidity rails, the world’s capital is beginning to migrate to an ecosystem where transactions are programmable, auditable, and borderless. Why Is Ethereum Chosen As The Default Choice For Global Rails The global capital markets are moving on-chain to Ethereum because it is credibly neutral. ETH has never experienced downtime, and it possesses the economic security necessary to support the world’s financial system. Investor and founder of GM42NFT, Captain GM, has stated that ETH is not fast enough to support trading because it wasn’t built for it. Related Reading: Ethereum Price Falls 25% But On-Chain Data and Institutional Staking Signal Q4 Recovery Potential However, the attempts to build a genuinely fast on-chain trading environment have consistently led teams to centralize significant parts of the trading system. This move creates security, reliability, and neutrality concerns for a system designed to be global. These compromises are in direct conflict with the very benefits that ETH provides, and make it the chosen blockchain for global finance. This is where Raya Network steps in to solve these issues at the core. Raya is delivering a decentralized exchange (DEX) with institutional-grade execution speed and Ethereum-level security. It’s a platform that is as fast as TradFi and remains simultaneously secure, reliable, and credibly neutral as exactly DeFi should be. “Fast is easy, decentralized is hard, and it’s only Reya that does both,” Captain GM noted. Analyst Alucard mentioned that the Raya network has become one of the few projects that genuinely solves the speed and security problem. The sub-millisecond execution speeds, trades are fully verified on ETH, and there’s no dependence on a single sequencer. This is an engineered combination designed for real progress in the space. However, over 45% of the token supply is allocated to the community. Reya, combined with the ETH buyback mechanism, creates an ecosystem that’s aligned both technically and economically. They’re building something fast and secure, and because of that, Reya sits in a different category. Why Reya’s Design Feels More Like A New Standard Than Another DEX A trader and ambassador of Somnia, Onur, has also explained that his experience with Reya feels like a full redesign of on-chain execution rather than a small improvement. It offers sub-millisecond fills, unified margin, Ethereum security with ZK settlement, and smooth flow through EigenDA. Related Reading: Ethereum Price Attempts Fresh Recovery as Bullish Pressure Builds According to Onur, the peer-to-pool model keeps trades consistent, efficient, and free from bottlenecks or hidden edges. As a result of this approach, Reya isn’t just another venue anymore, and it’s actively becoming the new execution standard for DeFi. Featured image from Peakpx, chart from Tradingview.com
A pseudonymous analyst has set off a new narrative around Ethereum’s upcoming Fusaka upgrade, arguing it could be the most favorable event ever for ETH as an asset by finally turning Layer-2 networks into meaningful ETH burners. On X, crypto pundit Kira Sama framed Fusaka, scheduled for December 3, as a structural shift in Ethereum’s fee economics. The core of the thesis is a single change: EIP-7918. “Price wise, Ethereum Fusaka upgrade on december 3rd, will be the most bullish upgrade for eth the asset ever, why? One reason. ‘EIP 7918’,” Kira wrote, calling it “the next big catalyst for eth burn.” Ethereum L2 Will Burn ETH Kira’s argument rests on how Ethereum currently treats L2s. Since the rollup-centric roadmap took shape, Ethereum’s base layer has effectively subsidized L2 data availability. In his words, “for a long time, ETH L1 charged zero base fees to L2s, while L2 deployers made millions of profits. So L2s haven’t burnt any meaningful eth.” That subsidized regime has fueled explosive L2 growth but also limited how much L2 usage translates into ETH burn. Related Reading: Ethereum Is 58% ‘Undervalued’ Based On Intrinsic Metrics, Says Hashed CEO EIP-7918 is designed to change that by tying L2 data costs more tightly to mainnet gas prices. Kira summarizes it as follows: “L2 fees will be bounded by the execution cost which will help us reach L2 fees price discovery faster. It also helps maintain the fees during spikes so that L2 users won’t be rugged from absurd tx fees. Win-win.” In practice, that means rollups will face a non-trivial, protocol-enforced minimum on what they pay Ethereum for posting their batches. Crucially for ETH holders, those fees are paid in ETH and a portion is burned under the EIP-1559 mechanism. Kira argues that as L2 throughput scales, this will become a dominant driver of ETH’s burn dynamics: “They will just pay their fair share to Ethereum L1 and burn meaningful eth. It will be slow and steady at the beginning. This will eventually result in burning millions of dollars of eth long term and L2s will be main driving force of making eth deflationary.” Related Reading: Ethereum Price To Recover Or Crash? The Real ‘Leverage Point’ Investors Should Know About The narrative becomes more aggressive when Kira extrapolates to corporate and institutional rollups. He lists a series of existing and anticipated L2s and claims that “Coinbase’s base will burn eth, Robinhood’s L2 will burn eth, OpenAI’s Worlchain will burn eth, Sony’s Soneium will burn eth, Alibaba’s Jovay will burn eth, UAE’s ADI chain burn eth, Kraken’s Ink will burn eth, Lighter will burn eth, Deutsche Bank’s Memento chain will burn eth, Arbitrum will burn eth etc etc etc. Corporations will start burning eth.” From that, he extends the thesis to a broader, highly bullish vision: “Every company in the world will launch their own layer 2. Every alt-L1 will become L2 and start burning eth. Eth inflation will shrink.” While those universal claims go far beyond what the upgrade itself guarantees, they capture the heart of the bullish narrative: if enough economic activity migrates onto Ethereum-secured L2s that must pay non-negligible base fees, Ethereum becomes the settlement and value-capture layer beneath corporate and institutional chains. Kira explicitly compares Fusaka to the London hard fork that introduced EIP-1559 in 2021. “When Ethereum introduced burn through eip-1559 in 2021, it lifted the whole market up,” he wrote. “Everyone will be caught off guard this time as well. L2s burning eth incoming. Bullish eth. Bullish L2s.” For now, Kira is clear about his own conclusion: “December 3rd, tik-tok. The ticker is ETH.” At press time, ETH traded at $3,022. Featured image created with DALL.E, chart from TradingView.com
Ethereum (ETH) has joined Bitcoin (BTC) in a notable price recovery, managing to reclaim the $3,000 mark. This resurgence could signify a pivotal moment for the altcoin, suggesting a potential new upward trend. However, investors remain divided on whether ETH may face further declines or if a year-end rebound could reignite bullish sentiment. ETH’s December Struggles In order to anticipate Ethereum’s probable moves in December, Alex Carchidi, an analyst at The Motley Fool, notes that this month has traditionally been a difficult month for the cryptocurrency. Since 2016, Ethereum has only concluded December higher than it started in four of the nine years studied. In the remaining five cases, the month ended in negative territory. The average December return throughout this span is about 7%, indicating that a strong “Santa rally” is improbable. The median performance shows a 6% drop. Related Reading: Bitcoin Price Climbs Back To $91,000: Is The Decline Over? Key Levels To Watch Examining the relationship between November and December reveals a more intriguing pattern. Between 2016 and 2024, when November has been weak for ETH, December often followed suit, with three out of four instances showing declines. The only outlier was in 2018, when Ethereum rebounded in December after a particularly harsh downturn in November. This historical context suggests that a poor performance in November could carry over into December, making a cheerful month less probable. But while December’s performance has historically been mixed, the beginning of the year has typically shown strong potential for the Ethereum price, particularly in the first and second quarters. In fact, average returns tend to peak in the first quarter at around 77% and the second quarter at approximately 64%, indicating that there may still be significant growth on the horizon for the leading altcoin. Tom Lee Foresees Ethereum Surging To $7,000 Amidst this hypothetical scenario, Tom Lee, chairman of BitMine Immersion Technologies and a major industry advocate, predicts a bright future for Ethereum in the near and long term. The executive believes that the cryptocurrency could surge to $7,000 per coin heading into the first quarter of 2026, reflecting a nearly 150% price surge from its current value. Related Reading: Metaplanet In Jeopardy: Bitcoin Needs To Surpass $108,000 By December 18 To Prevent New Crisis Lee is even more optimistic about the long term, predicting that if his vision for a decentralized financial system materializes, the Ethereum price could soar by 2,090% to reach $62,000 by 2035. After a challenging year in which ETH significantly underperformed its peers, it has shown increased resilience, especially following the recent crash in crypto prices that saw the token’s valuation drop to $2,600 last Friday. Currently, ETH is trading just above $3,000. While this is not bullish enough to outpace the recent crash, ETH is positioned to recover significantly if demand and capital flow back into exchange-traded funds (ETFs) as the year comes to a close. Featured image from DALL-E, chart from TradingView.com
Ethereum is trading far below its modeled “intrinsic value,” according to a live valuation dashboard launched by Hashed CEO Simon Kim. On ETHval (ethval.com), the current snapshot shows Ethereum at a spot price of $3,034.0 while the reliability-weighted “Composite Fair Value” stands at $4,777.5, implying +57.8% upside versus the market. The median fair value across models is $4,026.68, or +33.8% above spot. The dashboard labels ETH “UNDERVALUED” and aggregates its eight models into five buy, one hold and two sell signals. How The Fair Value Of Ethereum Is Calculated Kim introduced the project on X with the explicit goal of shifting the discussion away from pure sentiment: “What is ETH actually worth? The crypto industry deserves better than price speculation. I built a dashboard to think about ETH’s intrinsic value with 8 models… Far from perfect and open to feedback.” ETHval makes those models and their outputs fully visible, along with their individual reliability tags. Related Reading: Ethereum Price To Recover Or Crash? The Real ‘Leverage Point’ Investors Should Know About The tool’s central panel breaks out each valuation. The TVL Multiple model, which prices ETH off total value locked in DeFi using a 7× TVL-to-market-cap anchor, assigns a fair value of $4,026.6, judging ETH 32.7% undervalued (reliability: medium). A more conservative MC/TVL Fair Value mean-reversion model, treated as high reliability, lands at $3,453.1, only 13.8% above spot and classified as “fair.” Models that embed stronger network-effect or cash-flow claims are far more aggressive. The DCF (Staking) framework, which discounts an implied perpetual stream of staking rewards, values ETH at $9,101.9, indicating it is 200.0% undervalued. A high-reliability Metcalfe’s Law implementation, which scales value with TVL to the power of 1.5, is even more bullish at $9,585.9, or 216.8% above the current price. The Ethereum L2 ecosystem model, which adds twice the TVL of major rollups to Ethereum mainnet TVL before applying a multiple, generates a fair value of $4,640.0, implying 52.9% undervaluation, although ETHval marks this model’s reliability as low. A Staking Scarcity model, also low reliability and based on liquid-supply contraction, prices ETH at $3,538.2, or 16.6% undervalued. Related Reading: Ethereum Steadies Near $2,900 as Fed Rate-Cut Odds Fuel $3,400 Rebound Hopes Two income-style models push in the opposite direction and still receive high reliability scores. The P/E Ratio (25×) model treats annualized protocol fees as “earnings,” applies a 25× multiple and arrives at a fair value of only $957.4, reading ETH as 68.4% overvalued. The Revenue Yield model reverse-engineers price from a target protocol yield of 2.5%; at current revenue levels it outputs $1,531.8, implying 49.5% overvaluation. To synthesize these conflicting signals, ETHval applies a disclosed weighting scheme: high-reliability models are multiplied by 9, medium by 5 and low by 2 when computing the $4,780.7 composite. That weighting, combined with the extreme upside implied by the DCF and Metcalfe models, is what drives the overall conclusion that Ethereum is strongly undervalued despite two respected frameworks pointing to downside. The dashboard itself stops short of making investment recommendations. Underneath the numbers, ETHval reiterates that the outputs are for reference only and that each model rests on explicit, debatable assumptions. But by fixing the current ETH price at $3,034.0 against a live fair-value band stretching from $957.4 on the bearish end to $9,585.9 on the most bullish, Kim’s site quantifies a debate that usually plays out in anecdotes and narratives—and, for now, that quantified view leans clearly toward Ethereum being undervalued. At press time, ETH traded at $3,029. Featured image created with DALL.E, chart from TradingView.com
Ethereum continues to trade below the critical $3,000 level as selling pressure intensifies and fear dominates sentiment across the crypto market. The broader downturn has pushed ETH nearly 40% below its August all-time high, raising concerns that the asset may be entering a prolonged bearish phase. Analysts who were once confident in a continued rally are now shifting their tone, warning that market structure, volatility, and liquidity conditions are beginning to resemble early-stage bear market behavior. Related Reading: Bitcoin Short Squeeze Flushes Out Late Longers as Funding Turns Negative: Classic Capitulation Signal At the same time, investor confidence is being further tested by fresh on-chain activity showing large holders reducing exposure. According to data from Lookonchain, an Ethereum ICO participant has sold another 20,000 ETH, valued at approximately $58.14 million, through FalconX just a few hours ago. With selling pressure accelerating, derivatives sentiment weakening, and long-term holders beginning to reduce positions, Ethereum now sits at a pivotal moment. Bulls must reclaim the $3,000 region to stabilize momentum, while bears argue that a deeper correction could unfold if support continues to erode. ICO Whale Selling Raises Pressure as Ethereum Awaits Direction According to Lookonchain, the wallet behind the latest sale — identified as address 0x2eb0 — is no ordinary holder. This Ethereum OG received 254,908 ETH during the ICO, paying just $79,000 at the time. At today’s prices, that allocation is worth roughly $757 million, highlighting the scale of unrealized gains still held by early participants. The recent sale of 20,000 ETH suggests that even long-standing holders with substantial profit cushions are beginning to offload coins, adding to the already fragile market environment. This selling activity is particularly impactful given the current sentiment. Ethereum has already fallen sharply from its highs, leverage has unwound across derivatives markets, and retail confidence has thinned. When an early participant with a cost basis near zero begins distributing, it sends a psychological signal that further downside is possible. Yet, some analysts argue that these sales may simply represent portfolio rotation rather than a long-term bearish stance. The coming days will be decisive, as investors watch whether Ethereum can stabilize and rebound or if selling pressure accelerates. A recovery above $3,000 could revive optimism and reset momentum, while continued weakness risks confirming a deeper downtrend for both ETH and the broader market. Related Reading: XRP OI Collapses to Lowest Level Since Nov 2024: Binance Data Shows Liquidity Is Fading Breakdown, Weak Structure, and Fragile Bounce Attempt Ethereum’s weekly chart reveals a clear deterioration in trend structure following the sharp rejection from the $4,400 region and the subsequent breakdown below the $3,200 support zone. The selloff pushed ETH toward the mid-$2,700s before a modest rebound, but the price remains below key moving averages, signaling that momentum continues to favor sellers. The 50-week moving average has rolled over, while the 100-week and 200-week moving averages now sit overhead, forming layered resistance that could cap any recovery attempts in the short term. Related Reading: Bitmine Scoops Up Another 28,625 Ethereum ($82.1M) as Market Bleeds – Details Volume during the decline expanded noticeably, indicating active distribution rather than passive drifting. The most recent candle shows a small bounce, but with no strong volume follow-through, suggesting hesitation and lack of conviction among buyers. For Ethereum to regain bullish structure, reclaiming the $3,000–$3,200 area is essential, as this zone acted as a pivotal support throughout earlier phases of the cycle and now threatens to flip into resistance. Featured image from ChatGPT, chart from TradingView.com
Ethereum’s price has spent the past several days under intense pressure. The leading altcoin has broken below $3,000 and is now probing deeper into ranges that were previously considered secondary support. The latest technical read points to a single leverage point on the chart that now determines whether this recovery attempt can continue or whether the market is preparing for another leg lower. Where The Real Leverage Sits: $2,830 To $2,835 Ethereum’s price decline in November recently pushed it into a demand zone around $2,680 on November 21, where buyers finally stepped in to produce a 10% rebound back up to $2,970. The RSI trendline, which had been sloping downward for weeks, has now been reclaimed. This shift is significant because it indicates that momentum is no longer deteriorating at the same pace as before. Related Reading: Ethereum Dead Cat Bounce Puts Price At $3,400, But What’s The Ultimate Target? Even with that bounce, the cryptocurrency has not fully escaped danger. This is based on a technical outlook by a crypto analyst known as Umair Crypto on the social media platform X. The most important finding in the technical analysis is not the bounce itself but the location of the largest recent whale orders. Roughly 4,000 to 5,000 ETH blocks were executed between $2,830 and $2,835. That narrow band has now become the market’s true leverage point. As long as the Ethereum price is trading above $2,835, these whales are in profit. The psychological impact of that cannot be overstated, as large players do not usually abandon positions that are above their entry zone. This is why the price has repeatedly reacted within tight candles around this level, and there is always a possibility for a rebound if Ethereum continues to hold this area. Momentum will build naturally as trapped shorts unwind and sidelined buyers follow the strength in trading volume and RSI. The Bigger Breakdown Starts Below $2,770 Failure to hold above the leverage zone between $2,830 and $2,835 will lead directly into the second important leverage at $2,770. If Ethereum were to close below this level, the same whales who supported the bounce would instantly become vulnerable. Their positions would move underwater, and many of them may be forced to become sellers. Related Reading: Why Are The Bitcoin, Ethereum, And Dogecoin Prices Down Again? This zone is visible with the clusters of red circles visible at lower points on the short-term chart below. A breakdown under $2,770 would reopen the lower part of the support box and drag Ethereum back to its lowest price level since June. Ethereum is currently trading at $2,908, up by 1.5% in the past 24 hours and just a little bit above the recognized leverage zone between $2,830 and $2,835. Featured image from iStock, chart from Tradingview.com
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Ethereum is fighting to hold the $2,800 level after a brutal correction that has erased more than 45% of its value since late August. The sharp decline has flipped market sentiment decisively bearish, with many traders fearing that ETH has entered a prolonged downtrend. Bulls are struggling to establish a reliable support level, and the lack of strong buy-side reaction so far has only intensified uncertainty. Liquidity continues to thin out across major exchanges, reinforcing the narrative that the market is still deep in a risk-off phase. Related Reading: Anti-CZ Whale Loses Big: $61M in Profit Wiped Out As Ethereum and XRP Longs Collapse Yet, despite the heavy selling pressure and underwhelming price performance, not all major players are stepping back. In fact, some are doubling down. Fresh on-chain data from Lookonchain reveals that Tom Lee’s Bitmine — a well-known crypto-focused investment operation—continues to buy ETH aggressively at current prices. Bitmine has been one of the few entities consistently adding to its position during the downturn, signaling strong conviction that Ethereum remains undervalued in the long term. This divergence between retail fear and whale accumulation is becoming increasingly notable. As ETH hovers around a critical psychological level, the coming days may determine whether this whale’s confidence translates into broader market stabilization or remains an isolated bet against the prevailing trend. Bitmine’s Aggressive Accumulation Signals Confidence According to Lookonchain, Tom Lee’s Bitmine has continued its aggressive accumulation, purchasing another 28,625 ETH worth $82.11 million. This move reinforces the growing narrative that some of the market’s most sophisticated players are positioning for a rebound despite the prevailing fear and relentless selling pressure. Large-scale buying during deep corrections has historically aligned with early reversal zones, and Bitmine’s conviction adds weight to the idea that Ethereum may be approaching a significant turning point. Still, a recovery is far from guaranteed. ETH remains trapped near the $2,800 zone, a level that has acted as a fragile line of defense during this downturn. For momentum to shift, Ethereum must not only hold this area but also reclaim the $3,000 mark, which has now flipped into an important resistance zone. A decisive move above this level would signal that buyers are finally stepping back in with strength, potentially setting the stage for a broader trend reversal. Until then, the situation remains delicate. Bitmine’s accumulation offers a bullish signal, but without confirmation from price structure, Ethereum continues to walk a tightrope. A failure to hold current levels could invite another wave of capitulation, but stability here may spark the rebound whales seem to be anticipating. Related Reading: STH Panic Emerges as Bitcoin Crashes To $81K: Realized P/L Turns Negative For The First Time This Cycle Testing a Major Weekly Support Zone Ethereum’s weekly chart shows the asset sitting on a critical support zone after a steep decline from the $4,800 region. Price has now pulled back to around $2,800, a level that aligns closely with the 200-week moving average—a historically important area where ETH has often found long-term support. This zone previously acted as a launchpad during major market reversals in both 2022 and mid-2023, making its defense crucial for maintaining broader structural strength. The recent breakdown below the 50- and 100-week moving averages highlights the intensity of the current selloff. Momentum clearly shifted in favor of bears over the past weeks, with several large red candles confirming aggressive distribution. However, ETH’s current stabilization attempt above the 200-week MA signals that buyers are finally stepping in, preventing a deeper slide toward $2,400. Related Reading: Bitcoin OG Owen Gunden Deposits Final 2,499 BTC ($228M) to Kraken – Details If Ethereum can hold above this support area and reclaim the psychological $3,000 level, a recovery structure could begin to form. But if the 200-week MA breaks convincingly, the market could face a more prolonged correction. Featured image from ChatGPT, chart from TradingView.com
Tom Lee's company increased its crypto holdings last week despite sitting on around $4 billion in unrealized losses on its ETH bet.
Jan van Eck questioned whether Bitcoin offers enough encryption and privacy, saying some longtime holders are examining Zcash as the market reassesses long-term assumptions.
Ethereum is testing a critical juncture as the golden pocket between $2,600 and $2,800 comes into play. With resistance looming at $2,800, the market now faces a pivotal moment. Can ETH reclaim this level and spark a move toward $3,000, or will sellers push it back below key support? Golden Pocket Breakdown Validates Ethereum’s Downside Target In an Ethereum update, analyst Luca has offered a detailed analysis of the leading altcoin, reflecting on the expert’s previous predictions. As he covered all his PAT updates and his latest YouTube video, once Ethereum broke down below the high-timeframe support range, specifically the golden pocket between the 0.5 and 0.618 Fibonacci POIs, the most likely outcome was a continuation of the downside pressure. Related Reading: Ethereum Is Sitting On Its Most Critical On-Chain Support Level — A Rally Emerging? Luca explained that this expected continuation was targeting the next major support, the high-timeframe support range marked in purple. That exact scenario just played out, with the price now confirming the bounce on the low-timeframes, performing precisely as anticipated. From this validated support, Luca believes the most likely outcome is a reversal back to the upside. However, he stressed the need for confirmation before fully committing to the long side: “Before I start scaling out of my hedges, I want to see additional signs of strength and a clear bottoming formation to confirm that this level is holding,” Luca stated. The analyst concluded with a warning: if the price were to break below this established range, it would entirely invalidate the idea that the move is a simple corrective Wave 2 on the high-timeframes. Instead, the breakdown would signal a durable structural decline, which Luca intends to “avoid getting caught in.” $2,600 Tested: Buyers Rush To Defend Lows After examining current price action, crypto analyst Ted Pillows highlighted that ETH experienced significant volatility yesterday, nearly touching the $2,600 level before finding a temporary floor. Following that test, Ethereum is currently attempting to reclaim the $2,800 level, but is facing noticeable resistance from sellers at that mark. Related Reading: Ethereum Approaches Critical Resistance — Bullish Breakout Or Trap In The Making? The analyst provided a clear path for a continued recovery. Should Ethereum decisively reclaim and hold the $2,800 level, it would signal sufficient bullish strength, propelling ETH toward the next significant psychological and technical target at the $3,000 level. Conversely, Ted warns that if this essential $2,800 level is not reclaimed, the market is likely to reverse lower. As a result, traders should expect a sweep below the $2,500 level, indicating a need to test deeper support before the asset can attempt another structural recovery. Featured image from iStock, chart from Tradingview.com
Ethereum has officially broken below key support levels, and market sentiment is rapidly deteriorating as major assets across the crypto landscape continue to slide. Analysts are increasingly calling for the arrival of a new bear market, noting that both Bitcoin and the leading altcoins have lost critical technical zones that previously held the broader structure together. ETH, now trading at multi-month lows, is feeling the full weight of cascading liquidations, strong sell-side volume, and evaporating investor confidence. Related Reading: Bitcoin OG Owen Gunden Deposits Final 2,499 BTC ($228M) to Kraken – Details Adding to the growing uncertainty, Lookonchain reports a striking development: in just 10 days, more than $61 million in profit has disappeared for a well-known market participant often referred to as the Anti-CZ Whale. This trader previously gained attention for aggressively opening shorts immediately after CZ purchased ASTER — a move that paid off handsomely until the recent violent downturn reversed his fortunes. The Anti-CZ Whale’s Unrealized Profit Collapse Adds Pressure According to Lookonchain, the trader known as the Anti-CZ Whale has taken a massive hit during the latest market downturn — and Ethereum sits at the center of the damage. Just 10 days ago, this whale had accumulated nearly $100 million in total profit on Hyperliquid, largely fueled by aggressive positions built during periods of high volatility. However, as the crypto market sharply corrected, his oversized ETH and XRP longs turned against him. The result has been a brutal drawdown: his total profit has now fallen to just $38.4 million, wiping out more than 60% of gains in less than two weeks. This dramatic reversal reflects more than one trader’s misfortune — it signals the extent of the pressure weighing on Ethereum. As ETH continues to decline and investor sentiment deteriorates, even the most seasoned actors are struggling to navigate the volatility. The whale’s rapid profit erosion highlights how quickly bullish conviction can shift when key support levels fail. For Ethereum, holding the current zone is crucial. Price action has already inflicted significant pain across longs, short-term holders, and leveraged players. If ETH loses this support decisively, the next wave of forced selling could deepen losses and accelerate the broader market capitulation. Related Reading: Bitcoin Mean Reversion Oscillator Prints First Green Oversold Bar in Months – A Classic Bull-Market Bottom Signal ETH Price Analysis: Testing a Major Weekly Support Zone Ethereum has entered a critical phase on the weekly timeframe, with price pulling back sharply toward the $2,680 region — a level that now acts as the last meaningful support before a deeper market breakdown. The chart shows a strong rejection from the $4,500 zone earlier this quarter, followed by a sustained series of lower highs and lower lows, confirming a medium-term downtrend. The 50-week moving average has been lost decisively, and ETH is now sitting directly on top of the 100-week MA, a level that has historically acted as a key pivot during major market corrections. Volume has expanded during the recent drop, highlighting an environment driven by fear and forced selling rather than controlled profit-taking. This aligns with broader market conditions, where liquidity is thin and volatility remains elevated across majors. A clean break below $2,650 would open the door for a retest of the $2,300–$2,400 zone, which served as strong accumulation during previous cycles. Related Reading: Bitcoin Capitulation Deepens Around $90K Level: Classic Late-Stage Fear Structure Emerging However, the weekly chart also shows that ETH is entering a historically oversold area, similar to mid-2022 and late-2023, where reversals eventually formed after weeks of compression. For now, Ethereum must hold above this weekly support to avoid a deeper retrace and preserve the structure needed for a potential recovery. Featured image from ChatGPT, chart from TradingView.com
Tom Lee's company could trap shareholders amid low staking yields, hefty embedded fees and vanishing NAV premium, 10x Research founder Markus Thielen warns.
Ethereum is still struggling after the initial market crash on October 10 that rocked the market. The subsequent market declines have pushed the largest altcoin by market cap toward $3,000, breaking below it for the first time at the start of the week. With the price looking to find support, there is the possibility of a dead count bounce happening that could see the price rise by more than 10%. However, with a dead count bounce being ultimately bearish, the target remains much lower. Why Ethereum Could Be Headed Lower Crypto analyst TradingShot, in a recent analysis, outlined how the Ethereum price looks to be caught in a bearish trend since early October. This had first begun after the altcoin put in a new all-time high just above $4,900 before being hit hard in the October 10 market-wide crash. Related Reading: Dogecoin Price Could Surge Above $1 As It Repeats This Trend From 2023-2024 Since then, the digital asset has been caught within a Channel Down. This Channel Down is what triggered the double-digit decline that has been recorded for the altcoin since then. As the crypto analyst explains, the Ethereum price has seen a 27.50% decline on both of its bearish legs since this trend was established. Recently, though, there has been a small turn in the tide after the price dropped below $3,000, and this happened after Ethereum formed higher lows on the 1-Day RSI. Mostly, this is bullish for the cryptocurrency’s price, but the catch is that it is likely only going to be so for the short term. If the bullish divergence does play out as expected, then the Ethereum price is definitely set for some recovery. TradingShot believes that this recovery could bring the ETH price up by 10%, pushing it up to $3,400 before the bears step back in again. However, the overall trend still remains bearish, and this could act as a hindrance to this recovery. Once the bears mount enough resistance to stop the rally in its tracks, it is expected that the decline will resume. If this plays out, then it could mean that the recovery was only a dead cat bounce. Related Reading: Here’s Why The Bitcoin Price Keeps Crashing- Is $80,000 Next? This $3,400 level lies at the 1-Day MA50, which is important because it was the point of rejection back on October 27. Last time, it led to a 27.50% crash for the Ethereum price. This time, once the sell-offs begin again, the crypto analyst believes that this could trigger a sharp crash below $3,000. The timeframe for this ranges from the end of November to the start of December, giving it only a couple of weeks to play out. The crash is expected to push Ethereum down to $2,650 before finding a bottom, marking a new lower low. Featured image from Dall.E, chart from TradingView.com
U.S.-listed spot BTC and ETH ETFs see record outflows.
The cryptocurrency market finds itself at a compelling crossroads, and Ethereum has once again returned to a pivotal on-chain support zone that has historically marked major turning points in its market cycle. With ETH now pressing against this same support, the market is exhibiting a strong reaction that could confirm the integrity of the long-term trend. Why This On-Chain Support Zone Defined Ethereum Recovery Ethereum’s price is sitting right on top of its most important on-chain support, and the behavior around this level is exactly what occurs before a big reversal. A popular crypto news site, CryptosRus, has revealed on X that the ETH price sharply dropped to $2,870 earlier today, only to bounce instantly after Nvidia’s earnings lifted the entire market. CryptoRus highlighted that this bounce isn’t the real story, but the level at which it happened is. Related Reading: Ethereum Big Wallets Are Back: Whales Are Quietly Accumulating ETH – A Rally On The Way? Presently, the $2,800 zone is a strong on-chain floor for ETH. This is because the level lines up perfectly with the realized price of both retail and whales. These are the same zones that have marked the ETH bottoms in every past cycle, and ETH just tapped it perfectly. The classic signature of a bottom-zone behavior is that small wallets are in panic, while big wallets are buying in silence. Meanwhile, the on-chain rotation data has clearly shown that retail holders are selling, while whale investors holding 10,000 ETH and above are steadily loading up. A similar sentiment has been detected in the liquidation data. Long liquidations are barely moving on each new low, which means that the forced sellers are gone and the short sellers have been piling in aggressively. That’s the perfect setup for a squeeze. According to the expert, ETH didn’t just dip; it slammed into a major on-chain support, as large investors bought it up with conviction. Meanwhile, retail dumped it in panic, shorts crowded it, and now even a small bounce can trigger the fireworks. Historical Patterns Suggest A Reset Precedes The Next Expansion Ethereum had just repeated the identical liquidity pattern that occurred at the last two major bottoms, and it happened almost in the same week. An analyst known as Milk Road has stated that every single major ETH reversal started with a full liquidity reset. Related Reading: Ethereum Price Uphill Battle Continues as Sellers Hold the Advantage As that same liquidity reset occurs again, that’s when the ETH price begins its next massive expansion leg, which is exactly the setup ETH is currently in. In the meantime, the next phase will depend entirely on how quickly the market depth can be rebuilt. Featured image from Freepik, chart from Tradingview.com
The upgrade marks a sharper strategic turn for the blockchain, aligning protocol development with economic intent and strengthening the case for ether.
The action comes just a couple of weeks after fellow ETH treasury firm ETHZilla sold $40 million of tokens to fund its own share buybacks.
Aztec Network launched its Ignition Chain, becoming the first fully decentralized Layer 2 protocol on Ethereum's mainnet.
Fundstrat co-founder Tom Lee says Ethereum is nearing a cyclical low, arguing that on-chain fundamentals and relative valuation versus Bitcoin indicate that ETH is “pretty close to bottoming this week.” “Personally, I think that we’re pretty close to bottoming this week,” Lee told CNBC, linking the current drawdown to a broader crypto correction that began after a sharp liquidation event on October 10. Despite that shock, he insisted that Ethereum’s core investment story remains intact. Will Ethereum Bottom This Week? For Lee, that story centers on Ethereum as neutral infrastructure for tokenization and stablecoins, increasingly relevant as Wall Street intensifies its on-chain ambitions. “There are stablecoin creations. Larry Fink and BlackRock and Wall Street want to tokenize assets, bring stocks, bonds, real estate onto the blockchain. And they have to find a neutral 100% uptime blockchain. That’s Ethereum. And that’s the fundamental story,” he said. Related Reading: Ethereum Approaches Historical Accumulation Level – Just 8% Away From LTH Cost Basis Lee framed crypto’s extreme volatility as structurally tied to how the market values long-term innovation rather than as a sign of fundamental weakness. “The price, of course, for Ethereum will fluctuate because crypto is hyper volatile. In fact, it’s kind of a… it’s sort of a feature of the blockchain itself,” he noted. “Crypto suffered from that liquidation event on October 10th, but because the fundamental story is intact and crypto discounts the future, that’s why it’s volatile, but it still looks pretty attractive here.” He placed the current move in the context of a broader risk-off environment and a continuing correction across digital assets. According to Lee, macro data remains a crucial driver of crypto cycles, particularly for Bitcoin. “The most correlated factor to Bitcoin prices when you see it… at a peak actually is the ISM,” he said, referring to US activity surveys. “So I think we’re still in a correction phase of crypto.” Asked specifically what underpins his bullish view on Ethereum now, Lee pointed to two structural “floor” mechanisms. First, he cited the value of assets locked on the Ethereum blockchain. “Ethereum kind of has several ways that it establishes a floor. One is the value of all the assets locked onto the blockchain, and that number is growing,” he said. “Historically, Ethereum bottoms when that ratio is about 50%. So I’d say we’re pretty close to that level. That’s why I think Ethereum is probably bottoming this week.” Related Reading: Ethereum Flashes Rare Oversold Signal As Price Hits Demand Zone — Major Rebound Loading? Second, he highlighted Ethereum’s valuation relative to Bitcoin, using both price and network value. “The other way to look at Ethereum is really its price ratio or even its network value ratio to Bitcoin. It currently sits at 0.032,” Lee said. “The long-term average, like the eight-year average, if we were just to trade to that eight-year average, would put Ethereum at around $12,000.” On that basis, Lee characterized Ethereum as undervalued versus its historical relationship with Bitcoin. “So I think Ethereum is undervalued because number one, the story is gaining relative to Bitcoin this year. But two, we’re getting this sort of intrinsic floor because of the value that the assets locked onto the Ethereum blockchain,” he argued. Summarizing Lee’s stance, the CNBC host concluded: “Tom Lee saying that Ethereum is bottoming this week.” Lee did not offer a specific price target or an exact day, but his message was clear: in his view, Ethereum is close to completing its correction as on-chain value and relative valuation metrics converge toward levels that have historically marked major bottoms. At press time, ETH traded at $3,018. Featured image created with DALL.E, chart from TradingView.com
Ethereum is trading around key demand levels as fear and uncertainty grip the broader crypto market. The second-largest cryptocurrency by market capitalization has struggled to regain bullish momentum, currently hovering near $3,150 after weeks of consistent selling pressure. However, new on-chain data from CryptoQuant reveals that Ethereum might be nearing a crucial accumulation zone — one historically associated with long-term holder activity and market bottoms. Related Reading: Massive Bitcoin Bid Walls Spotted On Binance: Bulls Step In With 2,800 BTC Cluster According to the report, the ETH price is now just 8% away from touching the Accumulation Addresses Realized Price level at $2,895. This metric represents the average cost basis of long-term investors who have been steadily stacking ETH during previous market cycles. A move toward this level could signal the final stages of the ongoing correction, potentially attracting renewed interest from strategic buyers looking for value entries. Historically, similar declines toward the realized price of accumulation addresses have acted as strong support zones, leading to price stabilization and subsequent recoveries. While short-term sentiment remains fearful, the proximity to this key level suggests that Ethereum could soon reach a point where long-term investors begin accumulating once again — setting the stage for a potential market rebound. Long-Term Holders Stay Unshaken According to CryptoQuant analyst Burak Kesmeci, the $2,895 level represents the average cost basis of long-term Ethereum accumulators — investors who have been “patiently stacking” through multiple market cycles. This group tends to buy during periods of maximum fear, forming a stable foundation for future rallies. Historically, Ethereum has only dipped below this key level once, during the April 2025 Trump tax-tariff crisis, when global markets faced extreme uncertainty. The Global Economic Policy Uncertainty Index (GEPUCURRENT) surged to 629 points, surpassing even the COVID-19 pandemic peak by 50%. Despite the widespread panic, long-term holders continued to accumulate aggressively rather than sell. In fact, 2025 saw around 17 million ETH flow into accumulation addresses, raising the total balance held by these wallets from 10 million to over 27 million ETH. This trend highlights the conviction of Ethereum’s strongest investors, who have repeatedly viewed fear-driven sell-offs as opportunities. If Ethereum were to decline another 8%, it would reach this cost basis once again. Historically, this level has acted as one of the strongest long-term accumulation zones, signaling value and resilience. As Kesmeci notes, even if ETH briefly dips below $2,900, it’s unlikely to remain there for long. Related Reading: Ethereum Whale Expands Position By 36,437 ETH – Bringing Total To $1.34B Ethereum Holds Above Key Support as Market Tests Long-Term Confidence Ethereum’s weekly chart shows that the asset is holding above a key structural support zone near $3,000, after several weeks of downside pressure. The price briefly dipped below this level last week but recovered quickly, forming a potential short-term base around the 200-week moving average — a historically significant line that has supported major bottoms in past cycles. Currently trading around $3,190, ETH is attempting to maintain stability within this critical range. The 50-week moving average remains slightly above at $3,500, serving as immediate resistance. A break above that level would be an early signal of renewed bullish momentum, while losing $3,000 could trigger a deeper correction toward $2,800–$2,900, which aligns closely with the Accumulation Realized Price highlighted by CryptoQuant analysts. Related Reading: Bitcoin Leverage Cooldown Signals Market Reset: OI Drops 21% As Excess Risk Is Flushed Out The recent decline mirrors past phases of market reset, such as the April 2025 correction, where Ethereum similarly tested long-term supports before rebounding strongly. The confluence of technical and on-chain data suggests that current levels are being closely watched by long-term holders and institutional accumulators. Featured image from ChatGPT, chart from TradingView.com
Ethereum (ETH) is flashing a rare technical warning sign for bears. According to the analysis, the daily chart has hit a historically oversold MACD reading not seen in years, aligning with a deeply oversold RSI. This confluence of extreme momentum signals suggests that the price has entered a major demand zone, dramatically increasing the likelihood of a powerful relief rally and setting the stage for a significant short-term rebound. MACD Hits Rare Historical Lows — A Zone Linked To Major ETH Bottoms According to a recent post from More Crypto Online, Ethereum is currently flashing one of its most extreme MACD readings seen in years on the daily timeframe. While the MACD technically has no fixed oversold threshold, comparing past cycles gives valuable context. Historically, ETH has often formed significant market bottoms whenever the MACD enters the -210 to -220 region, a zone it has dipped below a few times, but not often. Related Reading: Ethereum Slips to $3K, Highlighting Weakness After Recent Failed Rebound This puts the current MACD position into what can be considered a historically oversold zone, signaling increased potential for a relief bounce. Adding to this confluence, the RSI has also slipped deep into oversold territory, reinforcing the idea that sell pressure may be nearing exhaustion. Together, both indicators suggest that momentum could soon shift away from the bears. However, the analyst cautions that these signals alone do not confirm a major trend reversal. Oversold conditions can persist longer than expected, particularly in strong downtrends. Even so, such extreme readings are often early clues that a temporary recovery or a corrective move to the upside may be approaching. Overall, the current market structure gives the bears something to think about. Early Signs Of Relief: Ethereum Finds Stability In Key Demand Zone In a 3D market update, CryptoPulse reported that Ethereum has now cleanly tapped the identified Demand Zone, showing early signs that the aggressive downside may be easing. This reaction suggests sellers are losing momentum, creating the conditions for a potential short-term rebound if buyers step back in. Should bullish strength return, a retest of the $3,500 region is likely in the coming sessions. Related Reading: Ethereum Approaches Critical Resistance — Bullish Breakout Or Trap In The Making? However, CryptoPulse emphasized that confirmation is still required before calling any meaningful reversal. A strong bounce paired with a reclaim of key short-term levels would be the first signal that buyers are regaining control. Meanwhile, if bearish pressure persists, Ethereum may drift deeper into the chart structure, where the next significant demand sits between $2,400 and $2,600. This zone could act as the major support zone for ETH if the current support fails to hold. Featured image from iStock, chart from Tradingview.com
The Bitmine chairman said a wounded market maker could be scaling back operations, tightening crypto liquidity and weighing on digital asset prices.
The Ethereum price has slipped deeper into a bearish structure that has intensified over the past week. A combination of weakening momentum, strong ETF outflows, and selling from long-term holders has dragged the price of Ethereum lower at a pace that has led to concerns about whether the cryptocurrency is preparing for a deeper correction. The latest decline has now placed the $3,000 region back into view and it opens up the question of whether the momentum behind this downturn is strong enough to force another breakdown below $3,000. Ethereum Price Slips Below Moving Averages As ETF Outflows Deepen New data from 10x Research reveals that Ethereum is now trading firmly below both the 7-day and 30-day moving averages, confirming a clean shift toward bearish momentum. The latest one-week change shows a decline of -6.6%, with the price failing to regain the short-term trendline at any point during the sell-off. Related Reading: This Analyst Called The Bitcoin Crash Below $20,000 In 2021, He’s Back With A Shocking Prediction For Solana The chart provided by the research firm illustrates how ETH-USD rolled over throughout early November as both moving averages curved downward, indicating that market structure has fully weakened. This technical deterioration is unfolding at the same time the Ethereum ETF market is experiencing one of its heaviest redemptions on record. According to data from SoSoValue, spot ETH ETFs have now seen more than $1.4 billion in net outflows since the beginning of November, a change that shows the decisive shift in institutional appetite. The combination of sustained selling pressure and shrinking ETF demand has created a feedback loop that continues to pull ETH lower whenever each price support level fails. XRP Price Chart. Source: 10X Research On X Long-Term Holders Selling Fastest Since 2021, But Whales Are Accumulating On-chain flows paint a picture of an ecosystem under strain. Data shows that long-term ETH holders, wallets that have held their coins for three to ten years, are now selling at their fastest rate since 2021. This group is known to be dormant during most phases of the market, so their recent activity has introduced a strong supply wave that exchanges have struggled to absorb. Related Reading: What Will Trigger The XRP 1,300% Break To $36 This Bull Cycle? However, the dynamic is not entirely one-directional. On-chain data shows that a few large whale wallets have stepped in aggressively during the downturn and bought hundreds of thousands of ETH worth over $1 billion. Meanwhile, the scale of accumulation has not been large enough to counteract the broader selling from long-term holders or the ETF outflows, leaving the price of Ethereum trapped inside a downward-tilting trend channel. Ethereum is now trading around $3,182, but its intraday low has stretched as far as $3,023. This leaves very little margin between the current level and the support zone at $3,000. If sellers continue to dominate and push the price below the $3,150 to $3,200 range, a direct slide to $3,000 becomes increasingly likely during the new week. Featured image created with Dall.E, chart from Tradingview.com
Ethereum is trading at a critical juncture after briefly losing the $3,200 level, with bulls struggling to defend it amid rising selling pressure. The broader crypto market remains on edge, as fear and uncertainty continue to weigh on sentiment following days of steady declines across major assets. Traders are watching closely to see if Ethereum can stabilize above this key support zone — a failure to do so could trigger a deeper correction toward the $3,000 area. Related Reading: $1.33B Ethereum Whale Just Moved Another $120M USDT to Binance – Details Despite the mounting pressure, one prominent Ethereum whale — known for a series of large-scale purchases this month — continues to accumulate aggressively. This investor has consistently added to their position even as the price fell, signaling strong long-term confidence in Ethereum’s fundamentals and recovery potential. This divergence between short-term fear and long-term accumulation paints a complex picture for Ethereum. While short-term volatility remains a concern, large holders’ continued buying may be setting the foundation for a more sustained rebound once market conditions stabilize and sentiment improves. Ethereum Whale Keeps Buying Despite Market Turbulence According to data from Lookonchain, the prominent Ethereum investor known as Whale ’66kETHBorrow’ has continued his large-scale accumulation despite the ongoing market downturn. Earlier today, the whale purchased 19,508 ETH worth approximately $61 million, expanding his already massive position built over the past week. Shortly after, an update revealed yet another purchase — 16,937 ETH valued at $53.91 million — bringing his total accumulation since November 4 to 422,175 ETH, worth roughly $1.34 billion at an average price near $3,489. Despite the recent price drop, the whale is currently sitting on more than $120 million in unrealized losses, but continues to double down on Ethereum exposure. This aggressive strategy indicates strong long-term confidence, as the investor appears unfazed by short-term volatility. Market observers suggest this accumulation pattern could signal institutional-level conviction that Ethereum’s current prices represent a strategic buying zone. While retail sentiment remains cautious amid heightened uncertainty, the whale’s consistent activity underscores a broader trend: large players are quietly accumulating, positioning themselves ahead of a potential recovery once macro conditions stabilize and risk appetite returns to the crypto market. Related Reading: Bitcoin Leverage Cooldown Signals Market Reset: OI Drops 21% As Excess Risk Is Flushed Out ETH Struggles Below $3,300 as Selling Pressure Intensifies Ethereum is currently trading around $3,200, facing renewed selling pressure after briefly reclaiming the $3,400 zone earlier this week. The daily chart shows ETH struggling to hold above its 200-day moving average (red line) — a key support level that often defines long-term market structure. A decisive close below this line could confirm a deeper correction phase. The 50-day and 100-day moving averages continue to trend downward, reinforcing the short-term bearish outlook. If Ethereum fails to recover momentum, the next major support sits near $3,000, followed by $2,850, where buyers previously stepped in during the summer consolidation. Conversely, a recovery above $3,400–$3,500 would be the first signal that bullish momentum is returning. Related Reading: Bitcoin Inflows To Binance Surge: Daily Average Hits 7,500 BTC Despite the pullback, analysts emphasize that large holders — including the #66kETHBorrow whale — continue to accumulate ETH, signaling strong conviction in the asset’s long-term potential. For now, Ethereum’s trend remains fragile, and bulls must defend the $3,000 region to prevent further downside momentum. Featured image from ChatGPT, chart from TradingView.com
ETH plunged below $3,100 on Friday as the crypto selloff accelerated with bitcoin losing the $100,000 level.