Ethereum (ETH) Momentum Check: Will $2.9K Hold or Break?

TheNewsCryptoPublished on 2025-12-19Last updated on 2025-12-19

Abstract

Ethereum (ETH) is experiencing mixed signals amid a slight market uptick. While it gained over 3.73% in 24 hours, trading between $2,777 and $2,994, it remains under downside pressure. Currently trading around $2,959, its market cap is $356.61 billion with a 44.72% surge in daily volume to $37.15 billion. Technical indicators show bearish momentum with MACD below zero, but mild buying pressure is noted with a CMF of 0.06. Key support lies at $2,947; a break below could lead to further declines, while a bullish push might test resistance at $2,971. A breakout could drive prices toward $2,983. The Bull Bear Power indicates bullish dominance, but RSI at 52.40 suggests neutral momentum, reflecting a consolidation phase.

A brief 1.19% uptick in the market cap has triggered it to reach $2.97 trillion. This has resulted in mixed signals across the crypto assets, sending the prices up and down. The largest asset, Bitcoin (BTC), is attempting to enter the bullish zone and escape from the bear grip. Meanwhile, Ethereum (ETH), the largest altcoin, has been under prolonged downside pressure.

The asset has posted a gain of over 3.73% in the last 24 hours. Today’s low and high ranges of ETH were marked at around $2,777.12 and $2,994.55. If the bulls steadily gained strength, they could form a bullish trend line. On the attempts failing, the price movement may end up losing more momentum in the market.

At the time of writing, Ethereum traded within the $2,959 range, with the market cap at $356.61 billion. Additionally, the daily trading volume of the asset has soared by over 44.72%, reaching the $37.15 billion mark. As per Coinglass data, the market has experienced a 24-hour liquidation of $158.28 million worth of Ethereum.

Can Ethereum Flip Momentum and Break Higher?

Ethereum’s Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line, pointing out bearish momentum. Notably, the short-term price trend is weaker than the longer-term trend. Besides, the Chaikin Money Flow (CMF) indicator at 0.06 hints at mild buying pressure in the ETH market. The money is flowing into the asset, showing early accumulation, but not strong enough to confirm a solid uptrend.

With the ongoing downside correction, the Ethereum price could retrace to the support zone at $2,947. A potential bearish pressure might trigger the death cross to take place, and send the price below the $2,935 range. Conversely, if Ethereum momentum turns bullish, it might rise and find the resistance at the $2,971 level. A breakout could likely initiate a strong upside shift, and the golden cross would unfold to drive the price toward $2,983.

Moreover, the Bull Bear Power (BBP) reading of ETH at 101.29 indicates strong bullish dominance in the market, reflecting upside momentum. Higher readings can signal the overextension condition. Ethereum’s daily Relative Strength Index (RSI) resting at 52.40 suggests neutral momentum. Significantly, neither the buyers nor the sellers are in clear control, but this is often seen during the consolidation phases.

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Related Questions

QWhat is the current trading range of Ethereum (ETH) as mentioned in the article?

AAt the time of writing, Ethereum traded within the $2,959 range.

QWhat does the Chaikin Money Flow (CMF) indicator value of 0.06 suggest about the ETH market?

AA CMF value of 0.06 hints at mild buying pressure in the ETH market, indicating that money is flowing into the asset and showing early accumulation, but it is not strong enough to confirm a solid uptrend.

QAccording to the technical indicators, what is the significance of Ethereum's MACD and signal lines being below the zero line?

AThe Moving Average Convergence Divergence (MACD) line and the signal line being below the zero line point out a bearish momentum, indicating that the short-term price trend is weaker than the longer-term trend.

QWhat are the potential price targets for Ethereum if the momentum turns bullish, according to the analysis?

AIf Ethereum's momentum turns bullish, it might rise and find resistance at the $2,971 level. A breakout could initiate a strong upside shift, potentially driving the price toward $2,983.

QWhat does the Bull Bear Power (BBP) reading of 101.29 indicate for Ethereum's market?

AA Bull Bear Power (BBP) reading of 101.29 indicates strong bullish dominance in the market, reflecting upside momentum. However, higher readings can also signal an overextension condition.

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