Ethereum

Stablecoin

Major

bullish

Resistance

<p>Ethereum is stabilizing after two intense weeks of corrective selling, with price action now showing early signs of a potential bottoming structure.</p>
<p>The weekly close is shaping up far stronger than many traders expected, as ETH continues to defend a major support band between $2,850 and $3,350,&nbsp;a zone highlighted by market analyst DaanCrypto as essential for maintaining bullish momentum.</p>
<h2 id="the-key-support-zone-is-holding-for-now">The Key Support Zone Is Holding – For Now</h2>
<p>According to DaanCrypto, the <strong><a href="https://x.com/DaanCrypto/status/1994816143735882180" rel="noopener noreferrer nofollow">market is respecting</a></strong> the most important structure on the chart. This zone has served as a defensive line for bulls multiple times in the current cycle, acting as both support and resistance across major pivots.</p>
<p>In the current decline, Ethereum dropped sharply into this area but did not invalidate the higher-timeframe structure. As long as ETH stays above the highlighted local lows, the bullish thesis remains in play.</p>
<p><img loading="lazy" src="https://www.ethnews.com/wp-content/uploads/2025/11/G68CSXWXQAA_QSC.jpeg" alt="" width="1200" height="759"></p>
<p>A weekly close above $2,850 significantly strengthens the probability that the worst of the correction may be behind the market, at least temporarily.</p>
<h2 id="chart-breakdown-what-the-structure-shows">Chart Breakdown: What the Structure Shows</h2>
<p>The high-timeframe chart displays three important elements:</p>
<h3 id="1-long-term-horizontal-levels">1. Long-Term Horizontal Levels</h3>
<ul>
 <li>$2,850 – the lower boundary, historically defended.<br> • $3,350 – the upper boundary of the current consolidation zone.</li>
</ul>
<p>These are the “must-hold” ranges for bullish continuation.</p>
<p><img loading="lazy" src="https://www.ethnews.com/wp-content/uploads/2025/11/ETHUSD_2025-11-29_19-33-28.png" alt="" width="2546" height="1594"></p>
<h3 id="2-previous-cycle-range-high">2. Previous Cycle Range High</h3>
<p>ETH is hovering just above the previous cycle’s range high, a classic area where large retraces often stabilize before new legs begin.</p>
<h3 id="3-2021-all-time-high-interaction">3. 2021 All-Time High Interaction</h3>
<p>ETH remains well below the 2021 ATH, but the current correction did not break the macro structure that began after reclaiming this long-term range earlier this year.</p>
<h2 id="short-term-price-action-gradual-recovery">Short-Term Price Action: Gradual Recovery</h2>
<p>The short-term (45-minute) chart shows ETH trading around $2,990–$3,020, following multiple intraday swings with declining volatility. While still choppy, the structure is forming a rounded stabilization pattern, indicating that sellers are losing momentum after an aggressive move earlier in the week.</p>
<p>Trading volume has softened, and the market is transitioning from panic selling toward accumulation behaviour typically seen after sharp corrections.</p>
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<h2 id="what-comes-next">What Comes Next?</h2>
<p>Traders will be watching two things closely:</p>
<h3 id="1-weekly-close-above-support">1. Weekly Close Above Support</h3>
<p>A strong weekly candle above $2,850 confirms structural strength and gives bulls room to attempt a recovery phase.</p>
<h3 id="2-first-resistance-zone-ahead">2. First Resistance Zone Ahead</h3>
<p>Michaël van de Poppe earlier highlighted the first major resistance at the 20-Day Moving Average, which currently aligns with a horizontal sell zone.</p>
<p>This area is likely where many short-term traders will take profit, meaning ETH may need time before a sustained breakout attempt.</p>
<p>If ETH can reclaim the MA with strength in December, it significantly increases the probability that the two-week correction has reached its bottom.</p>
<p>Ethereum now stands at a pivotal moment: hold this structure and reclaim short-term resistance, or risk opening the door to deeper downside. For now, the market is signalling resilience, and the weekly close will decide whether that strength is enough to shift momentum back toward the upside.</p>
<p>The post <a href="https://www.ethnews.com/thereum-is-testing-its-last-major-support-what-can-happen-next/" rel="noopener noreferrer nofollow">thereum Is Testing Its Last Major Support – What Can Happen Next?</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

thereum Is Testing Its Last Major Support – What Can Happen Next?

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