- Ethereum $ETH price faces consolidation after major corrections in June 2024 and early 2025 cyclical market behavior.
- Whale activity surged with a $1.3 billion ETH purchase which briefly boosted the price.
- The upcoming FUSAKA upgrade on December 3 is expected to lower fees, and drive potential user adoption for Ethereum.
Ethereum $ETH is showing signs of potential consolidation near $3,566. Technical indicators point to a cautious phase in market momentum. MACD signals reveal weakening momentum similar to previous corrective periods.
Technical Analysis and Price Structure
Over the past 18 months Ethereum has shown clear ups and downs. Its first big about 43% drop happened in June 2024 then a sharp nearly 60% fall came between January and April 2025.
Both drops followed a similar pattern: prices long rallies took them to the peak and then pulled back sharply.Currently, Ethereum seems to be stabilizing after strong gains from early 2025 lows.
The MACD indicator has turned negative, showing that momentum is slowing, similar to past drops. To stay strong, ETH needs to break and hold above the $3,950–$4,000 range.
If prices fall below $3,150, there could be further drops toward $2,750–$2,450. Overall, the chart shows Ethereum taking a pause after aggressive recovery, with the market catching its breath.
Market Movements and Whale Activity
Recent market behavior shows continued volatility among major investors. TedPillows highlighted that ETH lost a key support level, with the next major support near $3,300.
If this level fails, Ethereum could reach a new monthly low.Conversely, whale activity has influenced short-term movements.
CryptoNobler reported a $1.3 billion purchase of 385,000 ETH by a prominent investor. Following this transaction, Ethereum briefly gained 2%, reflecting high sensitivity to large-scale buying.
Such large trades suggest cautious optimism among institutional players, indicating potential accumulation phases ahead of future market movements.
Upcoming Upgrades and Potential Catalysts
Ethereum’s FUSAKA upgrade, scheduled for December 3, is expected to enhance transaction throughput and lower fees. Ash Crypto reported that the upgrade could increase user activity and demand for ETH.
Investors are positioning ahead of this development, with reports of Tom Lee’s Bitmine acquiring $82 million worth of ETH. Historically major upgrades have influenced mid-term price trends.
The upgrade is part of Ethereum’s broader strategy to improve scalability, potentially creating favorable conditions for price stabilization and growth if adoption increases.
