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After a Deep Pullback, Prices Remain Trapped in a Pressure Zone; Bearish Dominance Persists
Summary:
Ethereum's price has plummeted, attracting speculative investments. However, the price currently sits well below the key downtrend line in the 1D timeframe, with resistance at US$3,260.
Trading
2965.75
ENTRY
1959.00
TGT
3250.00
SL
-- -- --
0
Point
Flat
1959.00
TGT
CLOSING
2965.75
ENTRY
3250.00
SL
Fundamentals
Ethereum's price has fallen below US$2,800, triggering a significant surge in speculative trading. BitMine Immersion, a key fund management firm focused on Ethereum, continues to actively accumulate the cryptocurrency, adding US$83 million worth of Ethereum to its holdings. Notable figures like Tom Lee of BitMine Immersion and Ki Young Ju of CryptoQuant have highlighted institutional investor interest, noting that Ethereum is undervalued according to multiple valuation models.
Despite the price decline, it triggered a wave of buying activity. Speculators increased their positions, adding US$654 million in bets. On-chain data indicates that market leverage has been reset, reducing downside risk in the Ethereum futures market.
As prices remain under pressure, financial markets are sending mixed signals, yet there are also signs of potential stabilization emerging. These include robust on-chain fundamentals and growing developer activity, both of which underpin Ethereum's valuation.
Past price corrections of a similar nature have triggered leverage resets followed by phases of increased institutional buying. Historical data indicates that such maneuvers often precede bull markets, signaling potential future trends.
Technical Analysis
However, the technical outlook is not particularly optimistic. The Ethereum price rebound that began at US$2,620 saw bulls push the price above US$3,000 before encountering resistance.
In the 1D timeframe, prices remain well below the 100-day SMA. Bears have defended the US$3,050 resistance level, with prices failing to even test the 50% retracement of the decline from the US$3,655 high to the US$2,616 low. The current price action indicates increasing bearish pressure. Should a rebound occur, prices may encounter resistance near the US$3,000 level.
The next major resistance level is near US$3,050. Currently, key resistance is forming around the US$3,250 area and the trendline. If the daily closing price breaks above the US$3,250 resistance zone, it could trigger a new round of steady gains. In this scenario, prices may rise toward the US$3,500 level.
On the downside, as the head-and-shoulders top pattern continues to play out, the bearish targets remain intact. Key support lies near US$2,500, and a break below this level could see prices test US$2,350. Should prices decline further, a drop to US$2,200 becomes possible.
Trading Recommendations
Trading Direction: Sell
Entry Price: 3000
Target Price: 1959
Stop Loss: 3250
Valid Until: December 22, 2025 23:55:00
Support: 2720, 2620, 2529
Resistance: 2935, 3105, 3245
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
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Master of Economics, 8 years in the financial industry, CFA holder, joined HSBC (Hong Kong) Bank in 2013 after graduating from the University of California, USA in the Investment Research and Markets Department. With years of financial market experience and trading experience, having provided excellent investment advice to many brokerages, entity derivatives importers and clients in Greater China.
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