Ethereum (ETH-USD) is trading near $3,020 on December 29 after a sharp short-term expansion briefly pushed price above $3,050 before momentum stalled. The move marks Ethereum’s most aggressive upside attempt in weeks. Ethereum rebounded above $3,050 but remains below all major declining EMAs. Daily RSI near 50 signals momentum stabilization, not a confirmed trend reversal.
WHAT ARE THE KEY TECHNICAL LEVELS FOR ETH IN THE NEAR TERM? ETH must hold $2,950-$2,900 to avoid renewed downside, while a daily close above $3,100-$3,150 would signal a potential trend reversal. HOW DO EXCHANGE FLOWS AND DERIVATIVES ACTIVITY AFFECT ETH’S OUTLOOK? Persistent net outflows support medium-term price floors, but rising futures and options activity highlight fragile conviction and potential for volatility.
WHAT WOULD CONFIRM A NEW UPTREND OR FURTHER CORRECTION FOR ETH? Acceptance above $3,150 would suggest the corrective phase is ending. Failure to hold $2,950 would confirm the latest rally was countertrend.
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