Ethereum is also safeguarding its vital support of 3,000 once again following months of shaky trading. The cryptocurrency, which currently oscillates around the mark of 3,500, is starting to stabilize, which attracts attention to both institutional and non-institutional traders. This level is closely observed by the analysts because it might predefine the next significant price trend of Ethereum.
Market analyst Henrik Zeberg shared a detailed four-hour chart on X (formerly Twitter) showing Ethereum trading around $3,532. His analysis suggests the token may have completed a prolonged ABCDE correction phase, forming a potential bottom near $3,145. That area aligns with the 1.618 Fibonacci extension, creating strong technical support.
Zeberg’s chart outlines a descending channel that has controlled Ethereum’s decline since October. The final E wave appears to have concluded around the $3,100–$3,200 range, signaling the end of the corrective structure. Technical indicators now hint at growing buying strength.
The RSI shows a clear bullish divergence, with momentum turning positive as price stabilized. Both MACD and RVGI indicators reflect early signs of recovery. Zeberg’s Elliott Wave projection suggests Ethereum could first retest $3,800 before an extended rally toward the $4,600–$5,000 region. Sustaining prices above $3,500 would likely confirm this shift toward a medium-term uptrend.
On-chain data indicates that large holders are steadily accumulating. One verified whale purchased approximately 75,418 ETH - worth about $269 million - within twelve hours through Binance. The same wallet now holds 266,901 ETH, valued at $949 million, according to blockchain records.
Across November, whale wallets collectively added over $1.37 billion in Ethereum, even as prices slipped around 12%. This pattern often signals confidence among major investors who view current levels as long-term value zones. Analyst Ted Pillows noted that whales are again showing clear interest, suggesting strategic positioning ahead of a potential market recovery.
Such large-scale accumulation provides a stabilizing force, especially during uncertain price phases. It also aligns with rising ETF inflows, which continue to channel institutional capital into Ethereum-linked products. These developments reflect sustained interest despite short-term volatility.
Ethereum remains a focal point in forecasts for the 2025 crypto cycle. The $3,000 base, combined with consistent whale accumulation and ongoing ETF activity, continues to strengthen its market structure. Nearly 32% of the total ETH supply is now staked, while more than $15 billion has flowed into Ethereum-based ETFs since 2024 approvals.
ETH was trading almost at the time of reporting and was down by less than 1 percent in the last day. Traders are monitoring three key items, namely support and resistance zones, whale accumulation patterns, and the overall trend of Bitcoin. All these indicators may determine whether Ethereum strengthens, falls in the meantime, or starts a powerful push towards a new level of 4,300 and higher.
The only question now is whether Ethereum can maintain the levels of support long enough to ensure a new bullish wave is present in this market cycle.
The central question now is, can Ethereum sustain its support levels long enough to confirm a new bullish wave in this market cycle?
Related: Is Ethereum Heading for a Bullish Breakout or a Market Trap?
Ethereum’s resilience above $3,000, supported by whale accumulation and steady ETF inflows, signals growing institutional confidence. Analysts believe that if this support holds, ETH could reclaim higher levels, setting the stage for a potential move toward $4,300 and beyond in the coming weeks.