Ethereum News Today: Ethereum Holds Steady at $2,900—Sign of Technical Strength or Warning of an Impending Downturn?

Ethereum has managed to hold steady above the $2,900 mark, prompting analysts to draw similarities to gold’s breakout movements as technical strength and changing institutional investments come into play. This recent stability has fueled optimism, with experts pointing to patterns reminiscent of gold’s historical rebounds during market upswings. The consolidation comes after eight consecutive days of outflows from

spot ETFs, which reversed on November 21 with net inflows totaling $55.71 million, .

Technical signals have turned more favorable for Ethereum. The relative strength index (RSI) has moved out of oversold conditions, and the 50-day moving average is now leveling off near current prices. Analysts observe that Ethereum is challenging a significant resistance area at $2,800, a level that has previously attracted strong buying interest.

it may rally toward $3,000 and possibly $3,220, echoing price action seen in June 2024. At the same time, the MACD histogram has started to flatten after a lengthy decline, .

Institutional flows have also shifted direction. After several weeks of $1.33 billion in redemptions, Ethereum ETFs saw a turnaround, with Fidelity’s FETH pulling in $95.4 million in new investments. Conversely, BlackRock’s ETHA ETF experienced $53.7 million in withdrawals, reflecting a mixed outlook.

$12.63 billion, while assets under management stand at $16.86 billion.

Market watchers are also paying attention to the impact of AI-powered staking solutions on volatility control. GeekStake, a staking service, published a report explaining how automated mechanisms respond to sharp price drops in assets like ETH. can fluctuate during volatile times, highlighting the importance of predictive technologies for maintaining stability. This reflects a broader industry push to reduce risks in proof-of-stake networks, where congestion and liquidity swings are ongoing concerns.

Despite encouraging trends, some bearish signals remain. Ethereum’s 200-day EMA is approaching a potential death cross with the 50-day EMA, which is considered a negative technical indicator. On-chain metrics also reveal a 300% increase in long-term holder selling, with significant withdrawals from exchanges suggesting that large investors are moving assets to cold wallets.

, as the long/short ratio on leading exchanges shows a heavy tilt toward long positions.

Regulatory shifts are adding further complexity. The U.S. Commodity Futures Trading Commission (CFTC) is establishing a CEO Innovation Council to help shape crypto regulations, with proposals due by December 8.

the importance of industry cooperation to address digital asset markets and blockchain adoption. While these regulatory moves do not directly impact Ethereum’s price, they could affect the market’s long-term structure and investor sentiment.

The next phase depends on whether Ethereum can firmly reclaim the $2,800 level. If it does, the asset could follow a breakout path similar to gold, supported by institutional buying and technical momentum. On the other hand,

it may revisit $2,620, with the possibility of dropping to $2,480 should broader economic pressures increase. , with some predicting a recovery to $3,400–$3,700 by 2026, depending on Layer-2 adoption and lower transaction fees.

At present, traders are showing cautious optimism. The price holding above $2,900 has renewed debate over Ethereum’s chances to outperform

, especially as the Cboe gets ready to introduce regulated futures in mid-December. , “ETH’s current setup is like a compressed spring—once it releases, the move could be swift.”