Real-time analysis of ETH futures contract market (Beijing time December 23, 2025)

Currently, the price of the ETHUSDT perpetual contract is approximately 2965 USDT, with a 24-hour decline of about 2.7%. The highest reached 3078 USDT, and the lowest dropped to 2945 USDT. The funding rate remains around 0.006%, indicating that bulls have a slight advantage, but overall market sentiment is cautious. Open interest exceeds 6 billion USD, and the liquidation amount in 24 hours exceeds 250 million USD, mainly due to short liquidations, reflecting increased short-term selling pressure but resilient defense from bulls.

Overview of technical indicator analysis

On the daily chart, ETH is in a downward channel experiencing volatility and adjustment, with the price clearly under pressure after breaking below the 3000 mark. The short-term moving average (such as the 7-day MA) has crossed above the price, the 25-day MA is around 3038 forming resistance, and the 99-day MA is even higher above 3600, indicating that the medium to long-term trend remains bearish. The RSI indicator hovers in the 40-50 range, having moved away from the oversold zone but not entering the overbought zone, with momentum being neutral and weak; after the MACD fast and slow lines diverged, the green momentum bars expanded, confirming that short-term downward momentum is dominant. Overall, ETH is in a correction phase after a rebound, with support levels to focus on at 2920-2950; if it breaks down, it may test 2800; resistance above is at 3080-3200, and if broken, it can be seen as a reversal signal.

Operational strategy thoughts

In the short term, it is viewed as a bearish fluctuation, with a focus on light positions. Bulls can enter near the support level around 2950 with light long positions, placing a stop loss below 2920, targeting the resistance area of 3080-3200. Bears can short when resistance is encountered at 3080 during a rebound, placing a stop loss above 3120, targeting 2950-2920. It is recommended to combine with the overall market trend; if BTC stabilizes, ETH is likely to follow suit; prioritize risk control to avoid heavy positions chasing orders. Year-end liquidity decreases, so be cautious of sudden volatility.

Analysis data provided by X Aggregation Community, follow Twitter @XHubXBT to not get lost $ETH #ETH走势分析