#JoinGrowthPointsDrawToWinGoldenBar #ETHTrendWatch

ETH price is currently trapped between two trend lines, showing clear consolidation.

🔹 Price Action

ETH has been moving around $3,000 for nearly 3 weeks

After dropping to $2,620 on Nov 21, price failed to regain strong momentum

Rejection near the 50-day EMA at $3,260 pushed ETH back below $3,000

🔹 Key Levels

Major resistance: $3,000 – $3,260

Strong support: $2,800 – $2,600

The 200-week EMA lies inside this demand zone

If ETH holds above $2,800, consolidation may continue

A clean break above $3,000 + 50-EMA could open the path toward $4,000

🔻 Bearish Risks

Futures premium is near 3%, showing weak demand from leveraged buyers

Long-term holders sold 847K ETH in 30 days, adding selling pressure

Ethereum network fees dropped 45%, signaling weaker on-chain demand

Active addresses and transaction volume declined in the last 7 days

📉 Bearish Targets

A bearish flag is forming below $3,200

Breakdown below $2,800 could send ETH toward:

$2,716 – $2,623 (next support)

$2,376 – $2,300 (major bearish target)

⚠️ Conclusion ETH shows weak upward momentum.
Holding $2,800 is critical.
Loss of this level may trigger a deeper correction.