Ethereum price is trading around $3,030 today, stabilizing after adhering to the lower end of its recent range. Prices remain trapped below the downtrend line, limiting any recovery attempts since October, while buyers continue to defend the $2,900 to $2,950 demand zone. The market is in equilibrium, with neither side showing any belief.
Downtrend line continues to limit recovery attempts
ETH price dynamics (Source: TradingView)
On the daily chart, Ethereum remains trapped in a broad descending structure that started after the September peak. Any gains since then have stalled below the downtrend line, reinforcing sellers’ control on higher time frames.
Price continues to trade below the 20-day, 50-day, 100-day, and 200-day EMAs, all of which are concentrated between $3,190 and $3,405. This EMA stack is a dense zone of resistance rather than dynamic support. The supertrend also remains in the red near $3,380, matching the trend line and reinforcing its upper limit.
Until ETH is able to definitively regain this confluence, any attempt at an upward move will remain corrective. The broader structure still favors a continuation or hold of the decline over an immediate trend reversal.
Spot flows do not show clear accumulation trends.
ETH Netflows (Source: Coinglass)
Spot flow data continue to reflect indeterminacy. Recent transactions have shown modest net inflows, including about $6.7 million on Dec. 22, followed by an extended period of net outflows from October to November.
Related: Late Night Price Forecast: Spot Outflows Collide with Bullish Structures
Overall, the focus remains on distribution. There are no consecutive days of large inflows, and outflows continue to dominate periodically. This move suggests that long-term accumulation is not yet aggressive enough to break through technical resistance.
The intraday structure shows controlled stabilization
ETH price fluctuation (Source: TradingView)
On the 30-minute chart, Ethereum has carved out an uptrend channel after rebounding from the $2,950 swing low. Price has broken above short-term trend support and is gradually rising, but momentum remains measured rather than impulsive.
The RSI is holding near the 58 level, reflecting a balanced situation rather than overbought pressure. The MACD remains positive but flat, signaling stabilization rather than expansion. This is consistent with the broader theme of compression rather than directional certainty.
Intraday buyers have been active but have not yet forced the price into higher time frames. Barring a break above $3,100-$3,150, this move remains tactical rather than structural.
outlook. Will Ethereum go up?
Ethereum remains in a tightening range, with increasing pressure on both sides.
- Bullish case: A daily close above $3,300 will bring the trend line and EMA cluster back to support, opening the door to an extension above $3,600.
- Bearish case: A loss of $2,900 would invalidate the range and expose the downside towards $2,750.
Ethereum will continue to consolidate until either level breaks. Your next actions will be decisive rather than gradual.
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