Ethereum

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Ethereum’s native token, Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="https://cointelegraph.com/ethereum-price">ETH</a>), extended its <a href="https://cointelegraph.com/news/ethereum-price-loses-3k-onchain-data-sends-mixed-signals" rel="noopener noreferrer nofollow" target="https://cointelegraph.com/news/ethereum-price-loses-3k-onchain-data-sends-mixed-signals">downturn into December</a> after falling about 30% over the past three months, raising worries about how much further the sell-off could run by year’s end.
Key takeaways:
<ul>
 <li>ETH could slide toward $2,500–$2,200 if MVRV support and the pennant break down.</li>
 <li>A potential falling wedge breakout keeps bulls’ hopes alive for a rally to $3,550.</li>
</ul>
<figure>
 <img alt="Ether price analysis: Will ETH continue to decline in December?" src="https://s3.cointelegraph.com/uploads/2025-12/019adefd-97e7-7358-b3cb-5cb04e39280e" title="">
 <figcaption style="text-align: center;">
 ETH/USDT monthly chart. Source: TradingView
 </figcaption>
</figure>
<h2 id="ether-s-mvrv-puts-2-500-in-focus">Ether’s MVRV puts $2,500 in focus</h2>
As of Tuesday, Ether retested its −0.5σ MVRV deviation band (teal), currently sitting near $2,820–$2,830, as support for the second time in a week, Glassnode data <a href="https://studio.glassnode.com/charts/eth-mvrv-pricingbands-deviation?a=ETH&amp;s=1438214400&amp;u=1764547200&amp;zoom=" rel="noopener noreferrer nofollow" target="_blank">shows</a>.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-12/019adf45-3df6-7a95-bd2d-98c943b60c49" alt="Ether price analysis: Will ETH continue to decline in December?">
 <figcaption style="text-align: center;">
 Ether MVRV extreme deviation pricing bands. Source: Glassnode
 </figcaption>
</figure>
The MVRV bands compare Ether’s market price with the levels where holders last moved their coins, often highlighting key support and resistance zones.
As a result, the −0.5σ band repeatedly acted as an important mid-cycle support during downtrends.
In March, ETH’s decisive close below the −0.5σ band preceded a 40% decline, with price gravitating toward the realized price band (purple) as the first major downside target.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-12/019adf4b-9ddd-7027-b2e1-be0a9233ea77" alt="Ether price analysis: Will ETH continue to decline in December?">
 <figcaption style="text-align: center;">
 Ethereum MVRV extreme deviation pricing bands. Source: Glassnode
 </figcaption>
</figure>
A sustained breakdown below the −0.5σ support this time would again shift focus toward the realized price near $2,500, a level that has historically functioned as a downside magnet during corrective market phases.
<h2 id="ether-pennant-hints-at-20-correction-next">Ether pennant hints at 20% correction next</h2>
Ether’s recent price action compressed into a bearish pennant on the daily chart, a triangle-shaped continuation pattern that typically forms after sharp declines and resolves in the direction of the prior trend.
<figure>
 <img alt="Ether price analysis: Will ETH continue to decline in December?" src="https://s3.cointelegraph.com/uploads/2025-12/019adf2e-aaa5-7a23-b713-50d8f4546055" title="">
 <figcaption style="text-align: center;">
 ETH/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
A confirmed pennant breakdown would open the door to a measured move toward the $2,200–$2,220 area, roughly 20% below current levels. The zone aligned with the 0.786 Fibonacci retracement of the 2025 rally and a prior demand cluster from April.
The downside target also appeared around the apex of a falling wedge pattern shared by analyst <a href="https://x.com/DonaldsTrades/status/1995770005661647020" rel="noopener noreferrer nofollow" target="_blank">Don</a>.
<figure>
 <img alt="Ether price analysis: Will ETH continue to decline in December?" src="https://s3.cointelegraph.com/uploads/2025-12/019adf35-2142-7199-8630-7cd8bf7f62a8" title="">
 <figcaption style="text-align: center;">
 Source: X
 </figcaption>
</figure>
Falling wedges typically result in breakouts; however, this may indicate that ETH may form a local bottom around the $2,200-2,220 zone in December.
Related: <a href="https://cointelegraph.com/news/ethereum-fusaka-upgrade-scaling-rollups-without-breaking-the-core" rel="noopener noreferrer nofollow">Ethereum’s Fusaka upgrade: Scaling rollups without breaking the core</a>
ETH can rise toward $3,550 going into the new year if the price breaks above the wedge’s upper trendline, as shown below.
<figure>
 <img alt="Ether price analysis: Will ETH continue to decline in December?" src="https://s3.cointelegraph.com/uploads/2025-12/019adf57-4bd7-7882-b203-6ee7050f6d74" title="">
 <figcaption style="text-align: center;">
 ETH/USDT daily price chart. Source: TradingView
 </figcaption>
</figure>
This upside target aligns with the <a href="https://cointelegraph.com/news/ethereum-price-loses-3k-onchain-data-sends-mixed-signals" rel="noopener noreferrer nofollow" target="_self">ETH price predictions made by multiple analysts</a> during its recent downturns. Other Ether valuation models <a href="https://cointelegraph.com/news/ethereum-valuation-eth-undervalued" rel="noopener noreferrer nofollow" target="_self">further project ETH prices above $4,000</a>, deeming the cryptocurrency “undervalued.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ether price analysis: Will ETH continue to decline in December?

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