Ethereum Updates Today: Can Bulls Defend the $2,850 Level or Will Bears Take Over?
- Ethereum's $3,000 price tests $2,800–$2,950 support zone amid bullish wedge patterns and bearish breakdown risks. - Analysts split: Erik warns $2,850 break could trigger $800–$1,000 drop, while Matt Hughes calls $2,870 pullback a normal correction. - Technical indicators show mixed signals - ETH above 100-day EMA but below 50-day EMA, with Bollinger Bands framing $2,850–$3,150 key levels. - On-chain data suggests potential "liquidity reset" could precede bullish expansion, but delayed recovery risks prol
The recent movement in Ethereum's price has reignited discussions among both traders and analysts, as technical signals and blockchain data point to either a strong recovery or a further drop. With the cryptocurrency hovering around $3,000, it is currently challenging major support zones, while market participants watch to see if a descending wedge formation could propel ETH above its recent peaks.
One area drawing particular attention is the $2,800–$2,950 band, which many experts identify as a crucial support region. Erik, a trader active on X, pointed out that if Ethereum falls below this threshold and stays there, bullish scenarios could be negated, possibly pushing ETH down to the $800–$1,000 range
Technical charts further highlight the ongoing uncertainty. Ethereum is trading above its 100-day EMA ($2,950), but remains under the 50-day EMA ($3,080–$3,150),
Insights from on-chain metrics add further depth to the discussion.
Despite recent price swings, Ethereum’s fundamentals remain robust. ETH staking reached unprecedented levels
Opinions in the market are divided regarding what comes next. Should Ethereum maintain support above $2,850,
Experts warn that, despite a blend of technical and fundamental signals, the inherent volatility of cryptocurrencies like Ethereum remains a significant risk. “This is still typical crypto volatility,” Hughes commented,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Grayscale Increases Chainlink Holdings Amid Price Drop, Shows Confidence in DeFi’s Prospects
- Grayscale surged LINK holdings to 1.3M tokens, quadrupling over two years despite 50% price drop, signaling long-term DeFi infrastructure bet. - Price decline pushed LINK to critical support level with low Exchange Supply Ratio, suggesting potential stabilization and buying opportunities. - Research highlights Chainlink's role in securing dApps and enabling tokenized assets, with major banks like UBS already adopting its infrastructure. - Grayscale filed a spot LINK ETF (GLNK) for December 2025 launch, m
Ethereum News Update: Ethereum's Downturn Reflects Coordinated Withdrawal from Both Crypto and Traditional Markets
- Ethereum dropped below $3,000 on November 17, mirroring Bitcoin's 3.21% slump to a six-month low amid synchronized crypto-traditional market selloff. - Crypto investment products recorded $2B in outflows, with Ethereum ETFs losing $689M as macroeconomic uncertainty and whale selling intensified pressure. - Technical indicators show ETH breaking below $3,200 and key trend lines, with $3,000 support level at risk if $3,280 resistance fails. - Ark Invest's $39.6M crypto-linked stock purchases contrasted mar
Bitcoin News Update: Cryptocurrency Companies Turn to Preferred Shares for Bitcoin Purchases, Sidestepping Debt and Equity Dilution
- Metaplanet issues $150M in preferred stock to expand Bitcoin holdings, avoiding equity dilution and debt. - Strategy adds 8,178 BTC ($835.6M) via similar preferred shares, reflecting institutional preference for capital-efficient crypto financing. - JEXAI's AI-blockchain platform optimizes energy use and asset allocation, lowering barriers for institutional Bitcoin adoption. - Market turbulence, like a $5.5M liquidation on HyperLiquid, highlights risks driving demand for stable, long-term capital strateg
HSBC’s Tokenized Deposits: Unlocking the $16 Trillion RWA Market to Satisfy Investor Needs
- HSBC plans to launch tokenized deposits in the U.S. and UAE by 2026, targeting high-net-worth clients amid evolving banking models. - The move aligns with a $16.1T RWA market growth projection and FDIC guidance on tokenized deposits, reflecting industry-wide regulatory shifts. - Client demand for alternatives has doubled, with 59% of entrepreneurs diversifying globally, positioning tokenization as a key wealth management tool. - Industry forecasts suggest RWA tokenization could unlock $400T in traditiona
Trending news
MoreCrypto prices
More
