The price of Ethereum seems to be stable at the moment, but the overall pattern is slowly shifting towards an upward trend. Over the past 24 hours, ETH has barely changed; however, in the last seven days, the price has increased by 2.6% moderately. Moreover, the price has consistently remained above 3,100 USD several times, indicating strength rather than fatigue.
The movement in this forward manner is not coincidental as Ethereum is pressing close to a crucial point where breakouts typically occur. The next direction depends on whether the group of buyers, who are gradually re-entering, can turn this accumulation phase into a continuation.
The Bull Flag structure remains intact when the Breakout zone appears.
Ethereum seems to be breaking out after accumulating within a bull flag, which occurs when the price pauses after a strong upward movement and then swings within a narrow range before gradually moving higher. Therefore, this pattern indicates accumulation, not weakness.
This price structure remains strong as long as ETH stays above 3,090 USD. Therefore, if there are no daily candle closes below this level, the chances of the breakout that many are waiting for will still exist.
The mentioned price level has previously been a strong support point as it was able to absorb selling pressure during recent pullbacks. The price has repeatedly bounced back from this zone, indicating that buyers are still protecting it.
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If there is a daily candle close clearly above 3,130 USD, it will be the first signal that the bull flag pattern is about to end the upward phase. Such movement will indicate that the accumulation phase is ending and the buyers are regaining control. However, if there is still no close above this level, Ethereum remains in a consolidation phase, but the upward structure has not yet been broken.
Selling pressure eased when Ethereum's significant price appeared.
On-chain data also supports this price structure, as the Holder Net Position Change, which measures whether long-term investors are buying or selling ETH, shows that selling pressure has relaxed compared to previous rounds.
On December 12, Ethereum holders distributed about 958,771 ETH, but by December 13, net sales decreased to approximately 877,958 ETH, reflecting a reduction in selling pressure of about 8.4% over the 24-hour period.
This change is significant because although Ethereum is still facing net selling, the speed of selling has begun to slow down while the price is moving close to resistance. This type of behavior often occurs at the end of an accumulation phase, not during a severe correction.
When selling pressure begins to ease near important levels without the price breaking down, it increases the likelihood of buyers stepping in to support if a breakout occurs. Therefore, Ethereum is currently not seeing any panic selling; on the contrary, holders seem to be ready to wait more.
If Ethereum closes daily above 3,130 USD, the next resistance will be around 3,390 USD, and if it breaks through that zone, it will open the path to the area of 4,000–4,020 USD, which aligns with the target from the bull flag structure.
But if the bullish trend begins to weaken, if the price of Ethereum falls below the level of 3,090 USD or even 2,910 USD, closing below the latter level will immediately terminate the entire pattern.
