$ETH has seen a recent downward drift, testing support around $3,000 due to market pressures and macroeconomic concerns.
The asset failed to hold above $3,180 and is now consolidating below $3,200 and its 100-hourly SMA. A bearish trend line at $3,175 also presents resistance.
šŖ Technical Outlook
The hourly MACD shows growing bullish momentum, and the RSI is above 50, suggesting a potential upward reversal if $3,200 resistance is broken.
Immediate support is seen at $3,050. A drop below this level could lead to further declines towards $3,000 or $2,940.
Conversely, breaking above $3,250 could target $3,320 or $3,400 in the short term. On-chain data shows whale accumulation during dips, often preceding rebounds.
š Market Context
Ethereum's price action reflects a broader bearish sentiment in the crypto market, with recent forecasts indicating moderate volatility.
Predictions for December 2025 suggest an average price around $3,417, with potential highs near $3,730 if institutional interest and ETF developments accelerate.
However, sustained retail selling pressure might keep $3,000 as a key level, particularly amidst global economic uncertainties affecting risk assets.
š” Investment Considerations
Traders should monitor volume and Fibonacci levels for directional confirmation. Ethereum's ongoing ecosystem upgrades support its long-term value.
While short-term risks suggest caution, its utility in DeFi and NFTs positions it for recovery with improved macro conditions. Always diversify and use stop-losses to manage downside risk.
