Overview
- ETH is consolidating around $2,950–$3,000 with fading momentum and tight price compression below short- and medium-term moving averages.
- CryptoQuant data shows Binance’s ETH reserves rose to roughly 4.17 million in December as net inflows neared 8.5 million ETH, increasing tradable supply and potential volatility without guaranteeing selling.
- Arkham data reported by Lookonchain indicates Bitmine bought 32,938 ETH (about $97.6 million) and staked 118,944 ETH (about $352 million), signaling long-term positioning that removes liquidity from circulation.
- Key levels cited by analysts include resistance and confirmation around $3,200–$3,500 or a strong-volume reclaim near $3,300, with support at $2,800–$2,900 and invalidation risk below roughly $2,400–$2,500.
- A weekly bull-flag structure remains on watch with upside targets near $7,000 only if confirmed by sustained volume, while tools such as EMAs and Elliott Wave counts remain interpretive and secondary.