⚠️ Ethereum Stalls Below $3,000 as Selling Pressure Persists 📉
Ethereum is hovering near $2,980, holding ground for now but still unable to push through the $3,000 mark. Short-term bounces have shown up, but they haven’t carried much weight. Broader signals suggest caution is still in control.
📊 What’s weighing on ETH
• Spot ETH ETFs continued to see outflows through mid-December
• Futures premiums remain flat, pointing to limited long conviction
• Options skew leans toward downside protection
• Open interest and leverage have both cooled
🧱 Key levels
• Support: $2,850–$2,900
• Resistance: $3,000, then $3,150+
A clean move above $3,150 is needed to change the tone.
🔍 On-chain check
Network activity remains soft. Transaction counts and active addresses are lower, even though DeFi TVL has held up relatively well.
🧠 Trader’s takeaway
This looks more like stabilization than strength. ETH needs fresh demand and clear flow confirmation to break out of the range.
⏳ Until then, respect resistance and manage risk.
