On December 14, 2025, Ethereum showed signs of stabilization and recovery during the afternoon. The short-term momentum on the technical side is positive, but overall it is still under key resistance. The specific market analysis is as follows:

1. Price and key levels: Ethereum's price stabilized above $3200 in the afternoon, showing a fluctuating upward trend on the 4-hour chart. The current key resistance level is the 50-day exponential moving average corresponding to $3310. After breaking through this level, the next target can be seen at $3592. The intraday support level is in the range of $3075 - $3090, with around $3128 providing some support for the short-term trend.

2. Technical indicator signals: The RSI indicator on the daily chart is in the bullish zone at 54, and the MACD has issued a bullish crossover signal, indicating that short-term bullish momentum is leaning towards positivity. However, the price is still below the main EMA, and the overall trend has not completely reversed the bearish pattern. Additionally, the futures market previously saw open interest exceed $40 billion, indicating strong confidence in the leveraged market, which also provides some support for the price.

3. Overall market situation: The cryptocurrency market is currently in a narrow range of fluctuations, with Ethereum's hourly trading volume showing no significant increase, and market sentiment remains cautious. Previously, the macro-level interest rate cuts by the Federal Reserve have been digested, and the future trend will primarily depend on whether it can stabilize at the $3310 resistance level. If it can hold, it may reverse the short-term downtrend; otherwise, it may test the support range below.