Ethereum resumes its ascent as macro optimism lifts ETH
Ethereum has regained upward momentum after an early-December sell-off sent prices towards $2,800, with improving macro sentiment, renewed risk appetite and strengthening technical signals driving ETH back above $3,300.
Ether resumes its ascent
Over the past few weeks, Ethereum (ETH) has experienced a turbulent ride: a sharp sell-off early in December knocked ETH downward, but subsequent relief rallies - backed by shifting macro sentiment and renewed risk appetite - helped stabilise price action.
On 1 December, a sweeping crypto-market sell-off pushed Ethereum roughly 7 % lower to around $2,800.00, as global risk-off pressures, rising bond yields and heavy liquidations weighed on digital assets across the board.
In the days that followed, ETH managed to recover above $3,000.00, climbing toward levels near $3,250.00 as investors reacted to growing optimism ahead of key macroeconomic events - notably, expectations around potential interest-rate moves by the US Federal Reserve (Fed).
This rebound highlighted how sensitive Ethereum remains to broader financial-market dynamics, not just crypto-specific factors.
At the same time, structural developments and on-chain dynamics have added nuance to the recent price swings. According to recent reporting, futures-market positioning in ETH has sharpened: with leverage increasing, traders are reportedly targeting a breakout near $3,400.00, though the heightened risk also means that downside remains plausible if bullish conviction falters.
Beneath the surface, some observers note that a wider shake-out may have reset investor expectations: as markets digest the recent drawdown, Ethereum’s liquidity and exchange supply dynamics are under renewed scrutiny.
Yet, despite the volatility, there remains a thread of cautious optimism among certain investors. With recent swings and macro uncertainty, some argue that Ethereum’s dip could present a strategic entry point - especially if institutional interest continues and regulatory clarity improves.
In sum, Ethereum’s last few weeks epitomise the tension that now defines many major cryptocurrencies: the confluence of macroeconomic headwinds, technical pressure and leveraged positioning on one side, and ongoing institutional interest, evolving on-chain dynamics, and potential catalyst events on the other.
Whether ETH can stabilise - or whether liquidity stress and risk-off sentiment will again dominate - depends heavily on how global markets evolve in the near term.
Ether bullish case:
Tuesday's rise and daily chart close above its 1 December $2,999.18 high is bullish.
Now that the late November high at $3,097.96 has also been exceeded, the 200-day simple moving average (SMA) at $3,551.00 is in focus, together with the 10 November high at $3,658.13.
Support can now be spotted in the $3,200.00 region.
Ether bearish case:
Only a bearish reversal and fall through the Sunday 7 December low at $2,925.33 would put the bears back in control. In such a scenario, the $2,800.00 region may be revisited.
Short-term outlook: bullish while above the 7 December low at $2,925.33
Medium-term outlook: bullish while above the 7 December low at $2,925.33
Ether daily candlestick chart
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