Overview
- ETH is range-bound around $2,950–$3,000 with compressed volatility and fading momentum after repeated failed rebounds.
- CryptoQuant reports Binance’s Ethereum reserves rose to about 4.17 million ETH in December following nearly 8.5 million ETH of inflows, increasing tradable supply and the risk of sharper swings.
- Arkham data shared by Lookonchain shows Bitmine bought 32,938 ETH and staked another 118,944 ETH, signaling long-term positioning and removing liquid supply from the market.
- Analysts highlight a weekly bull-flag structure that could target roughly $7,000 if volume-backed breakout levels clear, with invalidation seen on sustained losses below $2,400–$2,500.
- Researchers point to rising on-chain TVL and capital concentration as factors reinforcing longer-term price floors even as short-term momentum indicators stay weak.