$ETH Ethereum is trading near $3,030, showing weakness after a sharp early-December drop but still holding above critical support at $2,900–$3,000. Market sentiment is cautious, with consolidation likely before the next decisive move.
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🔎 Current Market Conditions
- Price: $3,030.35 (down ~3.5% from $3,141.66)
- ETH has slipped below the $3,100–$3,200 consolidation band, reflecting profit-taking and cooling momentum.
- Despite the decline, ETH remains above key support at $2,900–$3,000, keeping the broader structure intact.
📊 Drivers Behind Movement
- Macro Pressure: Rising bond yields and unstable stock markets triggered a risk-off environment, leading to heavy liquidations across crypto.
- Technical Factors: ETH fell nearly 25–30% from recent highs earlier this month, surprising traders after months of gains.
- Upcoming Catalyst: The Fusaka upgrade is seen as a major turning point, with analysts expecting it to stabilize sentiment and potentially mark a cyclical bottom.
⚖️ Sentiment & Outlook
- Neutral-to-Bullish Bias: While short-term momentum is weak, ETH’s resilience above $3,000 signals confidence in the medium-term trend.
- Resistance: Sellers remain active at $3,300–$3,400, capping upside potential.
- Support: Buyers continue to defend $2,900–$3,000, preventing deeper corrections.
- Volatility Ahead: Analysts expect consolidation followed by a breakout, with macroeconomic conditions and the Fusaka upgrade being decisive factors.
Wait!!
Ethereum is consolidating near $3,030 after a sharp early-December drop. Macro pressures and profit-taking weigh on short-term momentum, but strong support at $2,900–$3,000 and the upcoming Fusaka upgrade keep the medium-term outlook cautiously bullish. Traders should watch for a breakout above $3,300 or a breakdown below $2,900 to confirm the next trend.
