$ETH price has recently experienced a downward drift, testing key support levels around $3,000 amid broader market pressures, including Bitcoin's influence and macroeconomic factors like inflation concerns. This correction follows a failure to hold above $3,180, with the asset now consolidating below $3,200 and its 100-hourly simple moving average, as indicated by technical charts. A bearish trend line at $3,175 adds resistance, but signs of recovery are emerging with momentum building in bullish indicators.

✏ Technical Outlook

The hourly MACD is gaining bullish momentum, while the RSI hovers above 50, suggesting potential for an upward reversal if $3,200 resistance breaks. Analysts see $3,050 as immediate support, with a drop below risking further decline to $3,000 or $2,940; conversely, clearing $3,250 could target $3,320 or even $3,400 in the short term. This setup aligns with on-chain data showing whale accumulation during dips, which often precedes rebounds in Ethereum's volatile cycles.

✏ Market Context

Ethereum's movement mirrors a bearish sentiment in the crypto space, with 50% green days over the last month and volatility at 5.13%, per recent forecasts. Broader predictions for December 2025 point to an average price around $3,417, with potential highs near $3,730 if institutional inflows and ETF developments resume. However, persistent selling pressure from retail could keep $3,000 as a battleground, especially with global economic uncertainties weighing on risk assets.

✏ Investment Considerations

Traders should watch volume and Fibonacci retracement levels for confirmation of direction, as Ethereum's ecosystem upgrades continue to support long-term value. While short-term risks favor caution, the asset's utility in DeFi and NFTs positions it for recovery if macro conditions improve. Always diversify and use stop-losses in such setups to manage downside exposure.