Overview
- ETH is trading in the $2,700–$2,800 range on Dec. 2 after failing to hold above $3,000 in recent sessions.
- Spot Ethereum products recorded roughly $1.42 billion in November net outflows and another $79 million on Dec. 1, adding to selling pressure.
- Glassnode data shows the 2–3 year holder cohort’s share fell from 8.51% to 7.33% since early November, even as new addresses rose 13.4% week over week.
- Binance ETH open interest has dropped about 51% from an August peak to roughly $6.2 billion, a reset some analysts say could help clear excess leverage.
- Chart watchers cite $2,800 as near‑term resistance with risk toward $2,500–$2,640 if it fails, while a sustained reclaim could reopen a move above $3,000; a Dec. 3 Fusaka upgrade and social‑media‑reported institutional dip‑buying, including a cited BlackRock purchase, are being watched as potential catalysts.