Overview
- ETH remains range-bound beneath a descending trendline, with sellers capping rebounds and a decisive move likely set by reactions to nearby support.
- Technical analysts note that failure to hold the $2,750–$2,900 area could accelerate downside, whereas a sustained reclaim above resistance would favor a relief rally.
- Price continues to trade below key moving averages around $3,200–$3,600, reinforcing a corrective structure after the pullback from the $4,800 peak.
- On-chain data show the fastest exchange outflows of the cycle and a staking imbalance with roughly 745,000 ETH queued to enter versus about 360,000 queued to exit.
- Large holders are accumulating as retail balances fall, ETF flows remain net negative on daily and weekly frames, and network activity stays resilient with record Q4 smart contract deployments and rising RWA value.