I. Market Overview

The current ETH market is in a phase of volatile rebound. The latest candlestick data shows that ETH’s current closing price is $3,034.16, serving as an important reference point for the recent market. Over the past 14 days, ETH has repeatedly tested lows, with the lowest reaching $2,716.04 and the high once breaking through to $3,099, demonstrating high volatility and intense long-short contention. Trading volume has shown a short-term surge, with the last two days being particularly active; on December 2, the trading volume reached 522,006, following sharp market fluctuations. In terms of market sentiment, analysts’ views are generally cautious, with some leaning bearish, especially after a brief rebound where bullish momentum was visibly hindered. News and capital flows also indicate that major funds have a need for adjustment amid volatility. Despite suspected significant increases in mainstream capital holdings and project innovation, ETF net outflows and short-term institutional capital movements have suppressed sustained upward momentum.

II. Technical Analysis

Based on the 14-day candlestick chart, ETH’s recent fluctuation range is between $2,716.04 and $3,099. It has stood above the key psychological level of $3,000 for several consecutive days, but upward momentum appears to be lacking. Short-term resistance is clearly situated between $3,048 and $3,099, while support is concentrated at $2,985.58–$2,994, with stronger support near the previous lows of $2,782.19 and $2,778.36. The hourly candlesticks over the past 48 hours indicate a rapid surge in ETH from $2,795 to $3,034, especially after breaking through the $3,000 mark when bulls briefly exploded, with hourly trading volumes once exceeding 112,646. Yesterday, there was a single-hour 6% drop, but ETH quickly rebounded and continued to fluctuate narrowly above $3,000. Trading volume is now slowing, with a heavier wait-and-see sentiment in the market.

III. News and Policy Interpretation

On the news front, there is a mix of short-term bullish and bearish developments. First, the application of artificial intelligence to leading blockchains like Ethereum provides support for potential innovation, and large institutional buys and whale staking have also boosted short-term confidence. A prominent US analyst points out the possibility of a year-end rebound, but there has not been an obvious capital influx. On the other hand, ETF net outflows, whale fund transfers, and historical chip sell-offs reflect significant differences between bulls and bears among major players. On the policy side, there have been no new regulatory developments; neither the past 24 hours nor the past month has seen the introduction of major policies, leaving the market environment in a self-adjustment phase dominated by capital games.

IV. Analyst Viewpoints Integration

Analyst viewpoints mainly fall into the following categories:
- “No special perspective on ETH; looking at the chart, 22800–2770 offers nearly 30-point left-side support resonating with 0.618. Short-term long from the left? The suggestion is to stick to one direction; rebounds can be avoided, everyone’s waiting to short!” This reflects a cautious attitude toward rebounds in the current price range, advocating against blindly going long at high prices.
- “#ETH/USDT多头买入:2635-2590...多单取消了稍后重新给点位，现在利好消息出来都拉飞了。” Analyst is skeptical about long positions, believing that after bullish news is realized, upside is limited.”
- “ETH short at 2860–2890, SL: around 2920. Lost, it’s too fierce, no pullback?” This reflects recent high market volatility and frequent stop-loss triggers.
- “ETH long position took profit, gained 40 points.” Some short-term bulls are realizing profits, with some choosing to cash out.
- “ETH has good support near previous lows of 2620–2650… Adjust your mindset, adapt to the emotional gap of bull and bear transitions. Not recommended to chase shorts for now, but if a rate cut approaches, short positions can be laid out in advance.” More analysts are suggesting risk avoidance and preventing chasing highs.

Overall, most analysts lack confidence in a short-term rebound and do not advocate aggressive bullish positions. Instead, they suggest gradually reducing positions on strength and being cautious of pullback risks.

V. Future Trend Forecast & Trading Suggestions

Based on candlestick data and mainstream views, the short-term tug of war between bulls and bears in ETH will continue, with $3,034–$3,099 as key short-term resistance. If this cannot be effectively broken, there is a risk of falling back to the $2,985–$2,995 support area. In extreme cases, if volume breaks downwards, watch for strong support at the $2,780 level.

For trading advice, short-term traders can focus on fluctuations around $3,000, following the breakout direction on a breakout and cutting losses promptly if it fails. At this stage, blindly chasing highs is not recommended; rather, consider a high-sell-low-buy or range trading strategy, paying particular attention to intraday moves near resistance and support. Medium-term investors should closely monitor volume changes and major capital inflows/outflows; without a clear breakout on volume, significant position increases are not advised. High-risk takers may try light long positions in the $2,980–$2,995 range, setting strict stop-loss orders below support, and exit quickly if the upward move fails; on declines, follow analysts’ advice to reduce positions in batches and observe.

VI. Risk Warning

Please note that ETH’s overall volatility has increased significantly, with a trading range of nearly $400 over the past 14 days and the largest single-day drop in 24 hours exceeding 6%. Large amounts of capital are entering and exiting in the short term, whale activity is frequent, and the attitude of major funds is unclear, greatly increasing the risk of chasing rallies or panic selling within the market. If ETH fails to hold $2,985, or if major capital continues to flow out, there is a possibility of quickly testing the $2,780 support level. At the same time, there are no major policy positives, and the market is easily affected by sudden news, resulting in sharp volatility. It is recommended to strictly control position sizes, set stop-loss orders, and prevent sudden large pullbacks from impacting principal safety.