📌 Current Price Zone
$ETH trading near $2,900–$2,950 — showing consolidation and reduced holiday-period volatility.
📉 Market Context
Crypto market cap down ~2.8%, reflecting broader risk-off sentiment.
📊 Key Technical Structure
Trend
$ETH is consolidating in a tight range with a short-term ascending trendline support and declining resistance line — forming a wedge/triangle pattern.
Broader trend still shows bearish intermediate momentum as price trades below major EMAs.
Volume
Lower trading volumes reflect year-end liquidity drying up.
📌 Support & Resistance Levels to Watch
✔ Support Zones
$2,900 – Immediate base near current price.
$2,750 – Lower support if breakdown occurs.
Broader support around $2,650–$2,800 also noted in multiple analyses.
✔ Resistance Zones
$3,100 – First major resistance above current.
$3,300–$3,370 – Strong supply cluster if bullish breakout confirms.
Higher (bullish) targets near $3,500–$3,650.
📈 Bullish Scenario
Conditions for continuation
Break above $3,100–$3,150 with strong volume would indicate shift toward bullish momentum.
Break of triangle resistance could open path to $3,300+ and potentially $3,500–$3,650 levels.
Potential upside targets
Near-term: $3,150–$3,300
Medium-term: $3,350–$3,650+
📉 Bearish Scenario
Risk triggers
Break below $2,900 support — key downside trigger.
Further weakness could drag ETH toward $2,750 or lower.
Bearish signals
Price trading below key EMAs, suggesting weaker bulls.
📊 Indicator Signals Summary
✔ RSI — near neutral, showing neither extreme overbought nor oversold.
✔ MACD — mixed signals, not yet confirming strong trend.
✔ Volume — thin trading volumes, caution on breakout validity.
📅 Market Sentiment & Forecasts
• Some analysts see ETH poised for a rebound into the $3,200–$3,300 range if resistance breaks.
• Broader longer-term forecasts suggest upside potential with improving momentum.
• Bearish downside risks remain if support levels give way.
🧠 Quick Takeaways (Bullet Points)
Neutral / Consolidation phase
ETH is range-bound near $2,900–$3,000, consolidating after recent moves.
The Economic Times
Key levels to watch
Support: $2,900 → $2,750
Resistance: $3,100 → $3,300+
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