Ethereum price is trading around $2,925 today after failing to sustain a short-term rebound earlier this week. The market remains under pressure as prices are pinned near the lower end of the downward channel and sellers continue to control the structure while institutional flows remain negative.
Downtrend structure remains intact
ETH price analysis (Source: TradingView)
On the daily chart, Ethereum continues to trade below the downtrend line that has capped its gains since October. Attempts to push further up below this diagonal resistance are rejected, reinforcing the bearish structure.
Price is still below all major EMAs. The 20-day EMA near $3,074 and the 50-day EMA near $3,249 serve as immediate resistance. Above that, the 100-day EMA near $3,452 and 200-day EMA near $3,429 reinforce the broader downtrend and highlight how far price has strayed from trend control.
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As long as Ethereum trades below this EMA cluster, any upward movement will remain corrective rather than trend forming. Sellers continue to defend the rebound and continue to put pressure on any recovery attempts.
Support zone faces important challenges
Despite its fragile structure, Ethereum has not definitively collapsed. Prices are consolidating just above the $2,880-$2,900 zone, which has absorbed multiple declines over the past two weeks.
This range coincides with the lower bound of the recent descending channel and serves as a near-term demand area. The lack of active follow-through to the downside suggests sellers are slowing down, but buyers have not yet expressed conviction.
If the price closes below $2,880 for the day, the next downside price target will be around $2,750, and if the selling accelerates, the $2,500 area will continue. Holding above current levels will keep Ethereum consolidating rather than continuing to decline.
ETF outflows continue to weigh on sentiment
Yesterday’s $ETH ETF outflow was $224,200,000🔴.
BlackRock sold $221.3 million in Ethereum. pic.twitter.com/HFVRtmo3b1
— Ted (@TedPillows) December 17, 2025
On December 16th alone, the Ethereum ETF recorded net outflows of approximately $224.2 million. BlackRock accounted for about $221.3 million of that amount, making it the largest single-day withdrawal in recent weeks.
ETH Netflows (Source: Coinglass)
The same thing can be seen from the spot flow data. Ethereum has experienced repeated sessions where net exchange outflows turn negative, indicating dispersion rather than accumulation.
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Data for the week starting Dec. 15 shows ETF outflows of about $220 million over three days, continuing a trend that has been going on since September.
Intraday chart shows fragile balance
ETH price dynamics (Source: TradingView)
On the 30-minute chart, Ethereum is not trending. After a sharp decline, the price is calming down and is trading within a narrow horizontal range between $2,880 and $2,980.
This is a post-decline basis, not an extension of the decline.
The supertrend remains above the price near $2,970, confirming that short-term trend control has not reversed to buyers. However, sellers’ repeated failure to push the price below $2,880 indicates that downside pressure has stalled.
The parabolic SAR dot has started to flatten as it approaches the price, but this reflects a loss of bearish momentum rather than a new selling impulse. Previous aggressive SAR expansion has ended.
outlook. Will Ethereum go up?
Ethereum remains caught between waning momentum and growing support base. The near-term outlook depends on whether buyers can defend current levels against continued selling from institutional investors.
- A strong case. A daily close above $3,074 followed by a recovery of the 50-day EMA near $3,249 would indicate improving momentum and pave the way for the $3,450 resistance zone.
- bearish case. A decisive breakdown below $2,880 confirms new downside pressure, with a potential of $2,750, and risks widening towards $2,500 if outflows continue.
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