#ETH走势分析 Both bulls and bears are fiercely contesting between the support level of $2,918 and the resistance level of $3,050! ⚔️
Bullish forces:
· Institutional funds are flowing in: The U.S. Ethereum spot ETF has recently continued to attract substantial capital inflows, with a net inflow of $96.6M on November 24, showing institutional support.
· Whales quietly accumulating: On-chain data shows that addresses holding between 10,000 to 100,000 ETH increased their holdings by approximately 1.64M ETH in November, and the ETH reserves on exchanges have dropped to a nearly 55-month low, indicating large holders are accumulating.
· Macroeconomic environment shifting: Market expectations for a rate cut by the Federal Reserve in December have surged to over 80%. If realized, a loose liquidity environment would be beneficial for all risk assets.
Bearish risks:
· Key technical resistance: The range of $3,050 - $3,132 is a strong resistance zone recently, also where the 20-day moving average is located. If it can break out with volume, then the upside potential opens; if it fails again, it may retest the support at $2,850, or even $2,750.
· Historical seasonal weakness: Historically, ETH's performance in December has been mixed, with few years showing gains, adding a touch of uncertainty to the year-end trend.
My observation:
Currently, ETH's MACD indicator has shown signs of bullish divergence, and the RSI has not yet entered the overbought zone, indicating a demand for a rebound from a technical perspective. The core issue is whether it can successfully hold above the psychological level of $3,000.
Is it a rebound or a reversal? Are you bullish or bearish?
