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Ethereum News Today: ETH Holds $2,700—Will Buyers Prevent a Drop to $2,500?

Ethereum News Today: ETH Holds $2,700—Will Buyers Prevent a Drop to $2,500?

Bitget-RWA2025/11/22 18:02
By:Bitget-RWA

- Ethereum tests $2,700–$2,850 support as bearish momentum intensifies, with breakdown risks exposing $2,450–$2,550 levels. - Long-term holders sold 58,352 ETH ($175M) in one day, while whales accumulate, signaling potential redistribution. - Fed minutes triggered a seven-month low near $2,870, aligning with historical support clusters and 2021–2022 price range midpoints. - A $2,700–$2,850 defense could target $3,050–$3,150, but sustained recovery requires breaking above $4,200 trendline.

Ethereum (ETH) is at a crucial crossroads as bearish forces grow stronger, with the cryptocurrency challenging significant support zones that may shape its short-term direction. The coin has been moving within a downward channel, and both analysts and blockchain data point to possible triggers for a bounce as well as ongoing structural issues that could extend the current decline.

Technical signals indicate

is facing a major inflection point. The $2,700–$2,850 range, previously a consolidation area before the July surge, now serves as a vital support band . Should prices fall below this threshold, the $2,450–$2,550 region could come into play, an area where (source). On the other hand, for ETH to reverse course, it would need to reclaim the $3,000 mark and close above its 100-day moving average, signaling a potential momentum shift . The $3,170 resistance remains a formidable barrier, with past attempts to surpass it repeatedly failing due to concentrated supply and persistent selling from long-term holders .

Ethereum News Today: ETH Holds $2,700—Will Buyers Prevent a Drop to $2,500? image 0
Blockchain metrics highlight the vulnerability of any possible turnaround. Long-term holders have been net sellers, unloading more than 58,352 ETH (valued at roughly $175 million) in just one day as of November 19 . A cost-basis heatmap shows a dense supply zone between $3,150 and $3,170, which has repeatedly blocked upward moves . Meanwhile, retail investors are reducing their exposure, while large holders (whales) are accumulating ETH, suggesting a redistribution phase may be underway . Forced liquidations have dropped, lessening immediate selling but raising the risk of a short squeeze if buyers manage to protect the $2,800 level .

Sentiment in the market remains negative, further weighed down by broader economic uncertainty. The publication of Federal Reserve minutes in late November sparked a rapid sell-off, driving ETH to a seven-month low near $2,870

. Experts point out that this price coincides with historical support areas and represents the midpoint between Ethereum’s 2021 high and its 2022 low . While some see this as typical crypto market volatility, others warn that periods of low liquidity—when trading activity contracts before a breakout—often precede extended bottoming phases .

The next move depends on whether buyers can maintain the $2,700–$2,850 support. If this level holds, ETH could aim for the $3,050–$3,150 imbalance zone, but unless it convincingly breaks above the downward trendline from $4,200, any rally is likely to be corrective in nature

. Alternatively, a drop into the $2,450–$2,550 range could clear out remaining sellers, which has historically set the stage for recovery phases .

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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