Ethereum (ETH) Reclaims $3,500 Amid Market Rebound, Analysts Forecast December Take-Off

Amid the latest market restoration, Ethereum (ETH) is retesting a key stage as help for the primary time in every week, main some market watchers to recommend that the extremely anticipated end-of-year run could also be delayed for a number of extra weeks.

Ethereum Eyes Next Key Level

On Monday, Ethereum retested an important stage after reclaiming it throughout the Sunday rebound. The cryptocurrency has been buying and selling inside the $3,100-$3,500 vary after final week’s market shakeout, briefly hitting a four-month low of $3,057.

Over the weekend, the King of Altcoins reclaimed the $3,400 resistance and soared roughly 7% to the $3,650 stage, stabilizing across the $3,500-$3,550 space as the brand new week began.

Daan Crypto Trades noted that the present ranges are an important space to carry within the brief time period, explaining that “If the bulls could make that occur, we are able to begin seeking to replenish a few of that inefficiency that was created throughout the huge flush lately.”

Nonetheless, Ali Martinez highlighted that over 869,000 ETH have been accumulated across the $3,700 stage, forming a significant resistance wall within the cryptocurrency’s path to the $4,000 psychological barrier.

Martinez additionally identified that the number of mega-whale addresses holding greater than 10,000 ETH dropped by almost two dozen previously week. Per CoinGlass knowledge shared by the analyst, 23 of the most important Ethereum whales offered or redistributed their holdings between November 4 and November 8.

Despite this, large-scale traders continued to wager on the King of Altcoin throughout the market sell-off. Tom Lee, CEO of BitMine, affirmed that “the latest dip in ETH costs offered a pretty alternative” to buy the cryptocurrency.

As a consequence, the corporate purchased 110,288 ETH, value $400 million, final week, growing its holdings to three,505,723 million tokens, or 2.9% of ETH’s whole provide.

ETH’s This autumn Rally Delayed?

Despite the latest restoration, Ted Pillows suggested that Ethereum won’t run to new highs this month, arguing that, identical to Bitcoin, “Ethereum isn’t displaying any correlation with M2 provide.” The analyst defined that this usually occurs when US liquidity progress is hindered.

Based on this, he considers that the second-largest cryptocurrency by market capitalization might consolidate all through the remainder of the month “earlier than taking off in Dec 2025/Jan 2026.”

Similarly, analyst Crypto Wolf believes ETH will doubtless “print a transparent greater low” close to $3,400-$3,500 this month as “solely after that may we realistically goal new ATHs into December.”

The market watcher highlighted that $3,100 is the following main support zone after the latest shakeout. If this stage holds within the greater timeframes, ETH might construct a base to retest the latest highs. However, dropping this significant space could be “how the bear market begins.”

Meanwhile, analyst Cas Abbé noted that ETH’s latest efficiency resembles its Q2 worth motion. At the time, the altcoin briefly broke under its multi-month consolidation vary earlier than recovering and rallying 100% to new highs within the subsequent two months.

If historical past repeats itself, Ethereum might be making ready to retest the $3,700-$3,800 resistance quickly and doubtlessly file an enormous rally by the top of the 12 months.