Ethereum News Today: Ethereum Faces $3,000 Test as Institutional Optimism Clashes with Bearish Forces

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Ethereum News Today: Ethereum Faces $3,000 Test as Institutional Optimism Clashes with Bearish Forces

Bitget-RWA2025/11/22 14:02

By:Bitget-RWA

- Ethereum stabilizes near $3,100 Fibonacci support as RSI and Stochastic Oscillator signal potential bullish reversal after sharp correction. - Institutional buyers accumulate 3.5% of ETH supply through long-term staking, contrasting ETF outflows and creating structural demand. - Technical analysts highlight completed Elliott Wave B pattern, suggesting $3,592 resistance test if bulls defend $3,000 threshold successfully. - Risks persist below key moving averages, with breakdown to $2,850-$2,380 possible a

Ethereum’s latest price movements have reignited hope among traders, with technical signals and institutional involvement hinting at a possible bullish turnaround despite persistent market swings. Following a steep drop that sent the cryptocurrency below $3,000 earlier in the week,

Ethereum

has managed to find support at crucial Fibonacci retracement points, and

experts have identified three Elliott Wave patterns

that counter the dominant bearish outlook. The price has steadied near $3,100, which coincides with a significant Fibonacci retracement range between $1,820 and $2,620—a zone traders consider pivotal for short-term price direction

based on technical analysis

This stabilization is backed by blockchain data indicating a slowdown in bearish pressure. Ethereum’s Relative Strength Index (RSI) has bounced back from oversold levels, and the Stochastic Oscillator has also recovered from extreme lows, suggesting a possible change in market sentiment

according to market analysts

. Furthermore, Ethereum’s price has remained above the $3,000 psychological mark, which previously acted as a major resistance during past rallies

as noted by financial sources

. Researchers from Chainalysis and the Ethereum Foundation have stressed the significance of this support area, pointing out that it could trigger a broader recovery if buyers maintain control

based on market projections

Ethereum News Today: Ethereum Faces $3,000 Test as Institutional Optimism Clashes with Bearish Forces image 0

Institutional investors have further strengthened the argument for a bullish shift. Leading organizations such as BitMine and SharpLink have been actively accumulating Ethereum, with their combined holdings now surpassing 4.35 million ETH—almost 3.5% of the total supply. Unlike speculative traders, these institutions are long-term holders, systematically purchasing and staking ETH to earn returns and create sustained demand

as reflected in market data

. This wave of institutional buying stands in contrast to the recent withdrawals from Ethereum ETFs, which have experienced over $1.2 billion in redemptions this month

according to trading reports

. The difference in behavior between retail and institutional participants highlights a broader shift of Ethereum’s supply from short-term, leveraged positions to more stable, long-term holdings.

Analysts are also noting the completion of a corrective B wave in Elliott Wave analysis, a formation that has historically preceded strong upward moves. Technical experts suggest that Ethereum’s current consolidation near $3,100 may mark the conclusion of an extended bearish phase and the beginning of a new rally. “A stable B wave can provide a foundation for a bullish move,” one analyst on X commented, adding that a successful bounce could see ETH challenge the $3,592 resistance level in the near future

based on technical analysis

Nevertheless, certain risks persist. Ethereum’s price remains under important moving averages, and a drop below $3,000 could revive selling pressure, potentially driving the price down to $2,850 or even $2,380

as projected by market experts

. At the same time, broader economic challenges, such as postponed Federal Reserve rate cuts and ongoing geopolitical issues, continue to impact risk assets

according to economic analysts

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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