Ethereum (ETH) is at an important point in the market. The price is stuck between a major support level and a clear resistance level. This situation means the price could either go up sharply (breakout) or down sharply (breakdown) soon, as traders watch the market closely near the end of the month.
Right now, Ethereum is priced around $2,970. It hasn’t moved much, staying between $2,920 (its lowest price in the last 24 hours) and $3,050 (its highest price in the same period). People trading Ethereum in the last day moved over $22 billion worth of it. Over the past week, the price of ETH went down by a little more than 2%, showing a small loss overall.
$2,890: A Critical Support Zone
An expert called Crypto Patel says Ethereum’s key support level is at $2,890. This support level is like a safety net: if the price stays above this amount, it shows that Ethereum has a good chance of rising in the future.
Crypto Patel wrote on Twitter that if ETH stays above $2,890, it might rise toward $3,650 and even $4,250 in the coming days. However, if Ethereum’s price falls below $2,890, it could open the door for lower prices like $2,630 or $2,400. ETH has been near these lower levels before, but staying above $2,890 would stop traders from revisiting those zones.
Resistance at $3,050–$3,150
On the upside, Ethereum faces some challenges at the $3,050–$3,150 range. This resistance level acts like a ceiling that ETH needs to break through for higher prices. Michaël van de Poppe, another market expert, said Ethereum’s market looks stronger. However, he cautioned that nothing is guaranteed yet. He believes breaking above the resistance level could lead Ethereum to hit $3,700.
Although smaller timeframes show an upward trend (where the price seems to climb gradually), Ethereum needs to go above $3,150 for a clear signal of momentum. If this happens, traders are targeting $3,650 as a short-term goal.
Mixed Signals from Indicators
Experts are looking at technical tools called indicators to better understand Ethereum’s next move. Two important ones are the RSI and MACD, which help measure trends and market strength.
Dami-Defi, a market analyst, said Ethereum’s RSI and MACD show small signs that the price could rise soon. The RSI (or Relative Strength Index) tells us if a market is overbought or oversold. When it’s above 50, it’s usually seen as a positive signal. Learn more about RSI.
Another indicator, MACD (Moving Average Convergence/Divergence), is useful for spotting changes in trends. Dami-Defi noticed that the MACD may turn bullish soon, meaning Ethereum could start rising. Learn more about MACD.
Analyst CW also mentioned Ethereum’s CME futures gap at around $2,950, where the price is currently sitting. A futures gap happens when there is a price difference between the closing and opening values in a financial market. These gaps often get filled before trends continue. Learn more about CME Futures.
Looking Ahead to the Monthly Close
Traders are paying attention to how Ethereum finishes the month. Crypto Patel said that if ETH closes December with a lower price, it will mean 75% of the months in 2025 had losses. This would show that it’s been a tough year for Ethereum holders (investors).
Outside of charts and numbers, people’s opinions about Ethereum are mixed. Some investors feel disappointed because despite the network growing in size and use, the price isn’t rising as fast.