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Ethereum (ETH) Holds Strong at Key Weekly CME Gap Support

Ethereum is exhibiting stability because it continues to carry above an vital technical degree. For over two weeks, ETH has discovered assist inside its historic Weekly CME Gap, an space that beforehand acted as resistance in previous cycles.

Meanwhile, this zone has attracted patrons and stays a key focal point because the market assesses the place costs would possibly go subsequent.

Key Support Holds as Price Consolidates

ETH first dipped into the CME Gap space round $2,900 on November 26. Since then, it has remained steady, buying and selling above $3,200 by December 3. The zone additionally aligns with previous consolidation ranges seen in 2024 and early 2025.

Rekt Capital famous that ETH has maintained this assist for two.5 weeks. The worth continues to maneuver inside a narrowing vary, supported at the underside by the hole and capped by a descending trendline from the current highs.

Adding to that shift in construction, Merlijn The Trader highlighted that Ethereum’s RSI has damaged above its long-term downtrend.

“RSI broke out. Momentum leads, worth follows,” he stated.

If momentum holds, the subsequent key degree on the chart seems round $3,400, in keeping with previous response zones.

Moreover, Ethereum has additionally reclaimed its 50-week easy shifting common. This got here after a bounce from the $2,800 space. Crypto Rover pointed out that ETH is now buying and selling again above this shifting common, which many view as a development information for medium-term worth motion.

Short-Term Targets and Market Structure

CryptoWZRD said ETH and ETHBTC each closed their day by day candles in bullish territory. ETHBTC is now buying and selling above a decrease high trendline that has held for over 100 days. The subsequent resistance degree sits close to 0.040 BTC. For ETH, $3,700 is the subsequent greater goal if momentum continues.

In the brief time period, CryptoWZRD is monitoring $3,200 as a crucial degree.

“If it holds above the $3,200 resistance goal, I’m anticipating one other lengthy alternative,” they stated.

If rejected, sideways worth motion might observe. Key resistance is seen at $3,550, whereas $2,800 stays the primary assist.

After the launch of Fusaka, Ethereum traded between $3,150 and $3,250 via Wednesday night time into Thursday. ETH is priced at $3,190 at press time, exhibiting a 4% acquire within the final 24 hours and a 6% acquire over the previous week (per CoinGecko information).

Trading quantity has additionally elevated, up 5% previously day, with $31.89 billion traded. Santiment reported sturdy shopping for from addresses holding between 1,000 and 10,000 ETH.

The submit Ethereum (ETH) Holds Strong at Key Weekly CME Gap Support appeared first on CryptoPotato.

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