Ethereum (ETH) is rebounding, but a $2.7K breakdown is still possible

Has ETH decisively regained the $3,000 level, or is there still a chance of a pullback to $2,700?

Resistance zone in the game

Analyst Kamran Asghar shared a 4-hour ETH chart showing the price approaching the $3,150 – $3,200 range. This zone has functioned as resistance in previous moves.

$ETH approaching a major resistance zone. Rejection could send the price back to the broader support area. pic.twitter.com/edjB75UkPA

— 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠𝐡𝐚𝐫 (@Karman_1s) December 22, 2025

Notably, the chart outlines a possible rejection from this level, which could push ETH back towards the $2,750-$2,800 support range. That zone has seen several reactions and remains an important level to monitor. ETH is still heading higher for now, but the resistance zone may slow momentum.

Also Lennaert Snyder shared two setups based on the current structure. One includes a $3,000 retest as support before continuation.

“The aggressive play is a ~$3,000 resistance/support flip,” he said. “I am willing to move towards that if we show a clear turnaround after retesting.”

He added that a more cautious plan is to wait for the asset to revisit the $2,870 zone. In that case, he would look to be long short-term if the area holds, or consider shorting the move if ETH breaks below $2,970. His view reflects a split approach depending on how the price reacts around current levels.

Price structure below the moving average

Ethereum is still trading below the 200-day EMA, now around $3,400. Analyst Altcoin Sherpa compared from the current 30-day range to a longer consolidation phase in late 2023. That earlier period lasted more than 90 days and followed a similar pattern of slow recovery and low volume. “The same atmosphere as before,he said, suggesting ETH may continue to move sideways for now.

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Although the price has recovered from recent lows, ETH remains below its moving average, which still acts as a barrier to longer-term trend shifts.

Whale activity and network signals

CryptosRUs reported that wallets holding more than 10,000 ETH have been adding to their positions since July. They noted that these wallets tend to buy when prices are weaker.

“These types of whales do not normally stack up at rallies,” they said.

Meanwhile, Ali Martinez shared data showing that major wallets spent $360 million on ETH last week, as previously reported. Their total holdings have fallen from 5.73 million tokens to 5.61 million since the beginning of October.