Ethereum is currently trading near $3,089 USD as of December 15, 2025, reflecting a decline of 1.2% over the past 24 hours. As the second-largest cryptocurrency by market capitalization continues its journey, it finds itself nestled just below the $3,400 resistance threshold.
Recent trading activity indicates a volume of approximately $11 billion within the last 24 hours, though this figure represents a decline compared to earlier periods this year. Analysts are closely watching the $3,020 support level, which has repeatedly proven its resilience and is deemed critical to preventing a further downward adjustment in price.
Crypto analyst Ted has raised the alarm on social media, highlighting the elevated risk that Ethereum could retest the $3,000 mark unless it manages to reclaim the $3,400 resistance. This current consolidation phase bears notable differences from earlier activities in 2025 due to noticeably lower trading volumes.
Key Support and Resistance Levels
As traders navigate these turbulent waters, the $3,020 support level emerges as a key point of contention for Ethereum’s future. Analyst Bahardiba on TradingView notes that this level has repeatedly provided a safety net for the asset. Maintaining price action above $3,020 could mitigate the recent correction, but a breakout over the $3,150 trendline resistance is necessary to rekindle bullish momentum.
Analysts speculate that if Ethereum can successfully break through the $3,150 threshold with increasing volume, it could pave the way for a rally towards $3,380. Conversely, any drop below $3,020 would suggest that the current consolidation phase remains unbroken, urging traders to remain vigilant.
“ETHEREUM IS LOADING WAVE 3. Wave 1 built the base. Wave 2 faked everyone out. Wave 3 sends it vertical.” This sentiment, expressed by popular trader Merlijn The Trader, has garnered attention as many traders believe Ethereum may be on the brink of entering Wave 3 of the Elliott Wave cycle.
The Elliott Wave framework illustrates that Wave 1 established a solid foundation, while Wave 2 tested the resilience of trader confidence. If Wave 3 unfolds as anticipated, Ethereum may witness a remarkable surge—though this is not guaranteed. The bullish narrative hinges on the support at $3,020 holding firm, particularly if accompanied by surging volume.
As market sentiment swings between optimism and wariness, some traders are eyeing ambitious short-term price targets of $5,000 to $6,000 should Ethereum breakout. On the other hand, a cautious outlook persists because of macroeconomic uncertainties, including potential interest rate shifts that could impact overall crypto trading dynamics. Notably, whale activity could significantly influence short-term price volatility.
In recent developments, Ethereum spot ETFs recorded a remarkable $209 million in net inflows during the trading week from December 8 to December 12, with BlackRock’s ETHA leading the charge at $139 million. The total net asset value of Ethereum spot ETFs now stands at $19.42 billion, highlighting the growing institutional interest in the second-biggest cryptocurrency. Investors are urged to keep an eye on these patterns as they reflect broader institutional sentiment toward Ethereum.
As the cryptocurrency landscape remains imbued with uncertainty, the next few trading sessions could be pivotal for Ethereum. The market watchers are advised to remain alert to volume shifts and test behaviors at significant resistance levels, as these indicators could shape the asset’s next major price movements.
