Ethereum price has moved sideways since the end of December 2025, and has struggled to establish a clear trend. ETH has repeatedly tested resistance without confirming a breakthrough.
Although the price development has been subdued, sentiment among several investor groups has improved, suggesting that the consolidation phase may be nearing its end as market expectations slowly build up again.
Ethereum owners smile as 2026 begins
Ethereum ETFs ended 2025 on a positive note after a volatile December. Spot ETH ETFs recorded a total crypto inflow of $ 67 million, which reversed nearly two weeks of steady outflows. This change indicates renewed institutional interest after a period of risk aversion driven by macroeconomic uncertainty.
The inflow suggests that macro investors may reposition themselves for the new year. Although the sentiment in December remained cautious, the early 2026 crypto inflow suggests increasing expectations for Ethereum's price development. Activity in ETFs often reflects long-term conviction and strengthens the view that downside risk may be decreasing among broader market participants.
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On-chain data supports the narrative of improved sentiment. Coin Days Destroyed, or CDD, showed only one significant peak throughout December. Beyond this event, the indicator remained subdued, signaling limited distribution among long-term investors.
CDD measures how long held coins are moved on the blockchain, and often highlights sales from experienced investors. Ethereum long-term holders do not seem inclined to sell even though ETH has failed to regain $3000 for over two weeks. This behavior suggests confidence in higher future values and reduces short-term selling pressure.
Ethereum is trading around $2975 at the moment, staying just below the resistance level of $3000. This level has capped the rise for most of December 2025. A sustained break above this level is crucial to confirm a new bullish structure.
Positive sentiment among holders may help Ethereum's price rise above $3000 during the first week of 2026. Continued accumulation and steady ETF inflows may provide sufficient momentum. A confirmed breakout may see Ethereum's price aiming for $3131, which corresponds to previous resistance that may now serve as a support level.
There is still a risk of further decline in uncertain market conditions. A broader market downturn could trigger an ETH price correction towards $2902. Increased selling pressure may extend the drop down to $2796, which would invalidate the bullish scenario and shift the focus back to cautious positioning.