Ethereum

Crash

Resistance

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Ethereum is trading just below a key price level watched across the market. The $3,100 area has capped price moves for several years, and recent trading has brought ETH back near that zone.
The asset is priced at around $2,950 at press time, down 3% over the past 24 hours and up almost 1% over the last seven days. Daily trading volume is close to $22.6 billion.
<h2 id="ethereum-tests-multi-year-resistance">Ethereum Tests Multi-Year Resistance</h2>
Ethereum has spent more than five years moving within a tightening price structure. The ascending triangle pattern on the chart is formed by rising lows and a flat resistance band between $3,100 and $4,000. Analyst StockTrader_Max <a href="https://x.com/StockTrader_Max/status/2003235800931270675?s=20" rel="noopener noreferrer nofollow">noted</a>, “$ETH bulls have full control above $3,100,” adding that a breakout from this range could trigger a strong move higher.
It is worth noting that the price is heading towards the top limit of this structure. The 50-week and 200-week moving averages are also close to the current level, providing additional support. A clean-up and close above $3,100 can open the door to re-test the $5,000 area that was approached in previous cycles.
Simultaneously, throughout the period of September to November, Ethereum exhibited a falling wedge, the pattern usually associated with reversals. This wedge broke out at the end of November, and the price moved back into a smaller range of between $2,750 and $3,200.
According to Don, this range is now showing signs of accumulation. ETH has remained above the wedge resistance. If the asset moves above $3,200, it could begin a run toward the $4,400 level projected from the earlier wedge breakout.
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> is in accumulation <a href="https://t.co/DDYxjl2vJw" rel="noopener noreferrer nofollow">pic.twitter.com/DDYxjl2vJw</a>
 — Don <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f402.png" alt="🐂" style="height: 1em; max-height: 1em;"> (@DonWedge) <a href="https://twitter.com/DonWedge/status/2003410093044638107?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 23, 2025</a>
</blockquote>

<h2 id="short-term-pattern-raises-near-term-risks">Short-Term Pattern Raises Near-Term Risks</h2>
On the 4-hour chart, ETH may be forming a head-and-shoulders pattern, a setup often associated with local trend reversals. The left shoulder, head, and right shoulder are visible, with the neckline drawn near $2,780.
Analyst Ali Martinez <a href="https://x.com/alicharts/status/2003412264913895482?s=20" rel="noopener noreferrer nofollow">said</a>,
<blockquote>
 “Ethereum appears to be forming a head and shoulders pattern, pointing to a potential move toward $2,400.”
</blockquote>
The pattern would only confirm if the price breaks below the neckline. Until then, the structure remains unconfirmed.
Meanwhile, Bitmine Immersion Technologies, led by Tom Lee, <a href="https://cryptopotato.com/tom-lees-bitmine-adds-98852-eth-in-a-week-now-holds-3-37-of-supply/" rel="noopener noreferrer nofollow">added</a> 98,852 ETH to its balance sheet over the past week. This increase places Bitmine among the largest known ETH holders in the market.
Despite recent market outflows, Ethereum recorded $555 million in withdrawals this week, but 2025 remains a strong year overall, as previously <a href="https://cryptopotato.com/ethereum-leads-the-charge-as-investors-pull-555-million-amid-clarity-act-uncertainty/" rel="noopener noreferrer nofollow">reported</a>. Total ETH inflows for the year have reached $12.7 billion, well ahead of the $5.3 billion recorded in 2024.
The post <a href="https://cryptopotato.com/the-3100-trigger-will-ethereum-finally-break-out-or-crash-to-2400/" rel="noopener noreferrer nofollow">The $3,100 Trigger: Will Ethereum Finally Break Out or Crash to $2,400?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

The $3,100 Trigger: Will Ethereum Finally Break Out or Crash to $2,400?

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