Ethereum price today is trading around $2,970 after another calm session, with the price approaching the top of a tightening structure. Buyers are defending the $2,900 area, but the rising resistance continues to stall below the descending resistance. The market is in turmoil, and the next move will depend on whether ETH is able to regain key moving averages or break below year-end liquidity.
Daily trends remain under pressure
ETH price fluctuation (Source: TradingView)
On the daily chart, Ethereum is still in a broad correction following its October peak. The price remains below the supertrend near $3,297 and the bias on higher time frames remains bearish. Parabolic SAR is still in a position to outperform price and is tightening downside containment despite recent stabilization.
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The decline from the $4,000 area saw a series of falling highs and falling lows, with sellers repeatedly intervening near the downside resistance. Although the downward momentum has slowed, the structure has not yet reversed. ETH needs to decisively regain higher levels to change its narrative.
Decision point of triangular compressed signal
ETH price dynamics (Source: TradingView)
The two-hour chart highlights rising tensions. ETH trades inside a converging triangle, with lows formed around $2,800 and highs capped around $3,050. This compression reflects the balance between buyers absorbing supply and sellers protecting rebounds.
The EMA cluster adds weight to this zone. The 20EMA and 50EMA are slightly below the price near $2,955 and $2,954, providing short-term support. Above, the 100 and 200 EMAs near $2,958 and $2,981 form layered resistance. Until ETH clears this band with confidence, momentum will remain limited.
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The 2-hour RSI is hovering near neutrality, showing no signs of fatigue or breakout strength. This strengthens the view that ETH is waiting for a catalyst rather than forming trends on its own.
Fundamentals remain strong below price
The technical hesitation stands in contrast to Ethereum’s network strength. Over 32 million ETH is currently staked, accounting for nearly 30% of the total supply and securing a value of over $105 billion. The validator set has over 1 million participants, highlighting decentralization and network resilience.
DeFi activity remains pegged at around $66.5 billion in total, and institutional exposure continues to grow through spot ETFs and allocations to corporate treasury. These factors provide structural support, even if they are not yet reflected in prices.
Roadmap adds long-term tailwinds
Looking to the future, Ethereum’s development pace remains brisk. The Gramsterdam upgrade, scheduled for early 2026, aims to address MEV fairness and execution efficiency. A Hegota upgrade is planned for later this year to advance discussions around Verkle Trees, which will reduce hardware requirements for node operators.
These upgrades strengthen Ethereum’s long-term investment case, but markets often require price confirmation before re-pricing fundamentals. For now, traders continue to focus on short-term structures rather than upgrades in the distant future.
outlook. Will Ethereum go up?
Ethereum is at a defining moment.
- Bullish case: ETH holds $2,900 and breaks above $3,050 on strong volume. This confirms the triangle breakout and shifts momentum towards $3,300.
- Bearish case: Failure to break out of the resistance will push the price back below $2,900. The $2,800 loss indicates a continuation towards lower support.
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