Why Ether Is Struggling To Hold $3k As Data Tilts Bearish 2025

Ether price wobbled as weak onchain activity, low futures demand and aggressive selling by holders favored a potential ETH price drop to $2,300.

Ether (ETH) has oscillated around $3,000 for the past three weeks, a consolidation period following its flash crash to $2,620 on Nov. 21. Ether traders are now questioning the likelihood of a further correction if support at $2,800 is lost.

Ether slid below $3,000 again due to a lack of futures demand and aggressive selling by long-term holders.

Declining Ethereum network fees and activity suggest lower onchain demand.

Weak technical setups warned of a drop to $2,300 if the next support is lost.

Ether’s recent recovery was rejected by resistance from the 50-day exponential moving average (EMA), which currently sits at $3,260, as shown on the daily chart below.

Related: Ether price trend forecasts triple-digit rally as ETH ETF inflows resume

This move, however, saw ETH/USD find support from the $2,800-$2,600 demand zone. The 200-week EMA is currently within this zone.

ETH must rise above the resistance at $3,000 and surpass the 50-day EMA to break out of consolidation for a sustained recovery toward $4,000.

The Glassnode cost basis distribution heatmap showed resistance between $3,100 and $3,250, where investors acquired roughly 5.9 million ETH.

Source: CoinTelegraph