Overview
- ETH continues to compress under the $3,000 resistance after repeated rejections in the $3,000–$3,100 band since July.
- Analysts flag $2,798–$2,800 as critical support, with a breakdown risking follow-through toward roughly $2,681 if buyer defense fails.
- Ethereum-focused ETFs have logged two weeks of net outflows, with just one inflow day largely tied to Grayscale activity.
- On-chain data show a sharp uptick in HODler Net Position Change, indicating reduced selling by long-term holders that may aid stabilization.
- Protocol revenue has fallen to about $522 million year-to-date in 2025, reflecting fee migration to layer-2s and increased competition from other layer-1s such as Solana.