$ETH 👋
ETH/USDT Market Depth Analysis｜Medium to Long-term Structural Judgment (2025-12-20)
Currently, Ethereum (ETH) is in the value re-pricing phase after the Fusaka mainnet upgrade (activated on December 3). This round of market activity is not purely driven by emotions but is a result of three factors: technical upgrades + institutional fund structural changes + on-chain fundamentals improvement.
Despite recent global markets experiencing macro-level deleveraging and volatility in risk assets, ETH has formed a clear "Value Demand Zone" in the $3,000–$3,350 range, indicating that medium to long-term funds have not exited but are patiently positioning in a low-volatility range. From a market structure perspective, ETH is in a critical transition phase from consolidation to bullish structure. 🙋🙋🙋
1. Technical Structure Analysis (Technical Structure)
1️⃣ Trend and Moving Average System
Prices at the daily level have consistently operated above the medium-term upward trend line, with no effective breakouts.
The 20-day and 60-day moving averages have started to flatten and show signs of turning upwards, indicating that the market is transitioning from a "defensive state" to an "active offensive state." #WriteToEarnUpgrade
Price compression range continues to converge, and the turning point window is approaching.
2️⃣ Indicators and Momentum
RSI is in the equilibrium area of 46–50, indicating that previous selling pressure has been fully absorbed, but it has not yet entered an overheated phase, which is typical of a "pre-increase indicator pattern."
Trading volume maintains a moderate increase, showing that the current movement is not driven by retail sentiment but leans towards structural funds entering the market.
Key technical confirmation level: If ETH can effectively break through $3,900 (previous high + psychological level overlap), it will complete the medium-term structural reversal confirmation, and the target range will directly shift to $4,600–$5,000, initiating a typical year-end trend market. #USNonFarmPayrollReport