Ethereum entered a moratorium after a volatile month as traders weighed technical pressures against steady interest from institutional investors. Following a sharp pullback from late-cycle highs, price action has settled into a narrow range on the 4-hour chart.
Market participants are now monitoring whether consolidation continues or turns into a deeper correction. In addition to price trends, derivatives data and corporate accumulation continue to shape near-term expectations.
Ethereum price maintains range after sharp rebound
Ethereum retreated from the $3,270-$3,300 zone and moved sideways around $2,980. This structure reflects a consolidation rather than a change in a confirmed trend. Volatility reduced as prices remained below major moving averages.
The 100-EMA near $3,070 and the 200-EMA near $3,040 limited any upside attempts. On the other hand, the 20-EMA and 50-EMA remained flat around $2,960-$2,980, showing indecision.
Key resistance levels are located near $3,036 and $3,134, which coincide with the Fibonacci retracement level. A break above $3,135 will reactivate the previous supply zone around $3,300. However, the seller had previously defended the area.
ETH price dynamics (Source: Trading View)
On the downside, immediate support lies between $2,965 and $2,950. Additional demand is seen near $2,938 and $2,817. Therefore, a break below $2,940 would expose the $2,820 to $2,780 range.
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Momentum indicators suggest limited confidence. CMF readings remain slightly positive, indicating a mild influx. However, buyers are not bidding any higher. Therefore, Ethereum remains range-bound while traders wait for confirmation.
Derivatives and spot flows point positioning
Despite recent price hesitation, Ethereum futures activity continues to grow. Open interest increased steadily throughout the year, reflecting increased participation in derivatives. During the uptrend so far, open interest has surged as prices have risen. Importantly, the pullback caused only a shallow reduction in open interest.
Recent data shows futures exposure is over $38 billion. This divergence suggests that traders are holding onto their positions despite consolidation. Additionally, leverage remains elevated, increasing sensitivity to directional movements. As a result, the futures market appears to be in a situation of increasing volatility rather than capitulation.
Net flows fluctuated rapidly throughout 2025, reflecting active positioning. On December 30th, Ethereum recorded net inflows of $30.54 million, with the price hovering around $2,975. Importantly, capital inflows often coincide with price strength, reinforcing accumulation signals.
Institutional accumulation that supports long-term narratives
Corporate accumulation added another layer to Ethereum’s prospects. Bitmine increased its Ethereum holdings by 44,463 tokens through a $130 million purchase. With this move, the total amount held increased to approximately 4.11 million ETH. The company currently controls approximately 3.41% of Ethereum’s total supply.
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Bitmine has also expanded its staking operations. We currently have over 408,000 ETH staked and are planning further expansion through the MAVAN validator network in 2026.
Technical outlook for Ethereum price
As Ethereum trades within a tightening range for the next phase, key levels remain clearly defined.
On the upside, the first resistance hurdles lie at $3,036 and $3,135. A confirmed breakout above $3,135 could pave the way for the $3,270-$3,300 supply zone where sellers had previously capped the rally.
On the downside, immediate support remains between $2,965 and $2,950. Below that, we see strong demand near $2,938, followed by a deeper support band near $2,820. A break below $2,940 would weaken the current structure and increase downside risk to low demand territory.
The broader technical picture shows Ethereum trading below major moving averages, reflecting short-term indecision rather than trend exhaustion. This correction phase often precedes an increase in volatility in either direction.
Will Ethereum rise further?
Ethereum’s near-term prospects depend on whether buyers can follow through and regain the $3,135 level. Stronger capital inflows and sustained trading volumes could support a push back towards recent highs.
However, failure to defend the $2,950-$2,940 zone will shift focus to lower support. For now, Ethereum remains at a critical inflection point and requires confirmation to define its next direction.
Related: Bitcoin Price Prediction: BTC Holds $84,000 Support, But ETF Inflows Prevent Breakout
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