The current price of Ethereum (ETH) is hovering around **$2950**, up slightly by 0.18% today, ending a two-day decline, but still in a downtrend overall, down 2.34% for the month, with a cumulative decline of 11.79% for the year. Market sentiment leans towards **extreme fear** (Fear and Greed Index at 11 points), technical indicators show short-term bearish signals, moving averages trending down, active addresses sharply reduced to May lows (from 440,000 down to 324,000), intensified selling pressure from U.S. investors, Coinbase premium declines, and outflows from ETH spot ETFs.
Market background: After Trump's re-election, the crypto market rebounded, with Bitcoin surging to a high of $89,000, and ETH also breaking through $3,000, but recent corrections are evident. ETH is down 24.99% from the 52-week high (December 17 last year at $3,933), and down 40.46% from the all-time high (August 24, 2025 at $4,955). On-chain data shows a decrease in holder sell-offs by 8.4%, with prices compressed in the $2,850-$3,000 range, forming a potential **bull flag pattern**, which may test resistance at $3,165 in the short term; if it fails to hold, it could dip to support at $2,275-$2,800.
Trend analysis: Short-term predictions show significant divergence. The optimistic view suggests that ETH will find a bottom above $3000, possibly rising to **3037 dollars** (an increase of 2.93%) on December 19, with a potential high of **3537 dollars** (ROI 20.4%) by the end of the month. The average price in January next year could exceed $3200, with a chance of breaking through the new high of $6500, driven by network upgrades and institutional demand. The bearish side warns that if it falls below $3000, it could continue downward to below $2275, with RSI trendline testing and channel upper rebound signaling a sell. Whale movements are key: if large holders increase selling, it might crash to $2800; conversely, breaking through $3050 could reclaim the $3000 mark. Overall, **bearish trends dominate but signs of a bottom are emerging**; if DeFi activities recover, bulls may have a chance to reverse.
Action recommendations (for individual investors in Vietnam):
- Conservative: Focus on observation, set stop-loss below $2850 to avoid chasing highs. Use local Vietnamese exchanges (like Remitano or Binance Vietnam) to buy in small batches. If it stabilizes at $3000, consider increasing your position.
- Aggressive: Short-term speculation on the resistance at $3165; if it breaks through successfully, target $3320-$3450. If it drops below $3000, either exit the market or switch to stablecoin USDT to preserve value. Monitor the dynamics of ETH ETFs and Federal Reserve policies, diversify into BTC/ETH combinations to reduce risk. Long-term holders need not panic; the potential for a target of $4500-$4800 in 2026 is significant, but control positions to not exceed 20% of total assets. Vietnamese investors should pay attention to local regulations and exchange rate risks, and it's advisable to operate through official channels.
