Recently, Ethereum has been fluctuating within the 3,000-3,150 range, with short-term price movements driven by a combination of capital flows and macroeconomic news. Data indicates that last week, Ethereum spot ETF funds experienced net inflows, with institutional buying continuing to exert marginal influence, as leading products from BlackRock, Fidelity, and others saw significant capital injections, reflecting sustained accumulation pressure on the spot market.Meanwhile, market sentiment remains "cautiously optimistic"—investors, amidst a slowdown in the Federal Reserve's rate cuts but an overarching dovish stance, are seeking risk exposure, yet concerns over liquidity and profitability continue to restrain momentum in chasing higher prices. The Fed's recent policy measures—including a recent rate cut and the resumption of short-term Treasury purchases—have temporarily lowered nominal yields and increased overall market liquidity. This environment generally supports a long-term positive outlook for digital assets. However, cautious rhetoric from the Fed Chair and officials in their statements has tempered market expectations of a swift bullish turn, resulting in Ethereum experiencing initial gains followed by declines or rapid reversals within message-driven trading windows.

In the 4H timeframe, intraday ETH has rebounded from local lows and is trading within the 3,100-3,150 range. The primary resistance level is identified at 3,450-3,500, aligning with previous highs and psychological round numbers. A high-volume breakout and sustained price action above this zone could target the next resistance at 3,700-3,800. Support levels are positioned at 3,050-3,000; a breakdown below this range might lead to a pullback toward 2,800-2,700.

In terms of technical indicators, recent candlestick patterns have surpassed the MA144 and tested it multiple times without falling below, indicating a gradual accumulation of bullish momentum. This trend suggests increasing potential for short-term upward movement.

Trading Direction: Buy

Entry Price: 3130

Target Price: 3700

Stop Loss: 2900

Valid Until: December 29, 2025 23:00:00

Support: 3025, 2908

Resistance: 3448, 3700