- ETH stays confined between $2.6K–$3K as analysts watch key boundaries for direction.
- Institutional ETH accumulation rises as Bitmine expands holdings during increased ETF inflows.
- Trendline strength pushes ETH toward $3,080 resistance while pressure builds for a breakout.
Ethereum stayed inside the $2,600–$3,000 range as traders watched these boundaries for clues about short-term direction. The structure remained tight, and reactions at each edge shaped price movement during the week. A level-by-level approach stayed important in the current environment. At the time of writing Ethereum was trading at $3,032.
ETH Holds Firm in the $2.6K–$3K Zone
Ethereum continued to move within the $2.6K–$3K area, and this zone shaped the current outlook. According to an observation by Daan Crypto Trades, prices kept reacting around $2,633, where buyers created a steady floor. The $3,000 area acted as a ceiling as the market tested this zone several times.
Charts showed that Ethereum declined from its September peak and then formed a rebound toward $3,083. Volume increased during the decline and eased as price recovered, so traders monitored how participation shifted inside the range. Market data also showed a mid-range test, which came from earlier consolidation.
Analysts stated that a confirmed break above $3,000 may open a path toward $3.3K–$3.4K. These levels came from past congestion areas that created many reaction points. A drop below $2,600 could move attention toward the low $2Ks, where earlier volume spikes marked previous accumulation zones.
Institutional Buying Continues as ETH Tests Resistance
Institutional activity remained strong. According to Onchain Lens, Bitmine Immersion Technologies added 14,618 ETH worth $44.34 million from a BitGo hot wallet. The firm now holds 3.6 million ETH, which is 3% of the total supply. Yahoo Finance reported that Bitmine Immersion has an enterprise value of $12.19 billion.
The company also purchased other batches of ETH earlier in the week during improved spot ETF inflows at BlackRock and Fidelity. Bitmine stock rose during the session and continued higher after hours as institutional ownership increased. Market data showed steady futures open interest, which suggested renewed activity among traders.
Charts also showed ETH moving along an ascending structure from the 22nd November pivot. Kamran Asghar said that “pressure is building for the next big move” as higher lows pushed price toward resistance near $3,080. Analysts continued to watch these levels because the market required a nimble approach.
