Ethereum climbed back above $3,000 after a wave of exchange traded-fund inflows and heavy whale accumulation helped stabilize the market following weeks of selling.
Summary
- Ethereum price reclaimed the $3K level while open interest climbed and trading volume softened.
- U.S. spot ETH ETFs recorded a fourth straight day of inflows.
- Ethereum’s chart shows early signs of a rebound, with ETH climbing off the lower Bollinger Band and short-term indicators turning positive.
Ethereum has climbed back above $3,000, trading at $3,037, a 3.5% daily gain. The move came after a rough month that has pushed ETH down almost 40%, leaving it 38% below its all-time high of $4,946 set in August.
24-hour trading volume stood at $21 billion, down about 5% from the day before. Derivatives activity, however, painted a different picture. According to CoinGlass data, futures volume slipped 10% to $76 billion, while open interest rose 6.59% to $37 billion.
A rise in open interest during a price recovery usually shows traders adding new positions instead of exiting old ones, often hinting at fresh momentum.
ETH ETF inflows and corporate accumulation fuel the move
Spot Ethereum (ETH) ETFs recorded another strong session, bringing in $78 million in net inflows, according to SoSoValue data. This marks the fourth straight day of inflows, pushing cumulative net inflows above $12 billion.
These steady flows matter because spot ETFs create real market demand. Issuers must buy ETH to back their shares, which can support price during weak market phases.
Institutional interest has also been building outside ETFs. Tom Lee’s BitMine added 69,822 ETH last week worth roughly $197 million, lifting its total holdings to about 3.63 million ETH. BitMine’s holdings are now valued at over $10 billion.
Ethereum whales appear ro be accumulating as well. A Nov. 26 report from CryptoQuant contributor Arab Chain shows that wallets holding 10,000–100,000 ETH now control more than 21 million ETH, the highest balance ever recorded.
The largest category, holders with more than 100,000 ETH, accumulated an extra 4.3 million ETH in recent months. Meanwhile, Binance’s ETH reserves dropped to 3.76 million, suggesting coins are moving into long-term storage or staking rather than exchanges.
Together, these trends cut down sell-side supply and help build price floors during recovery phases.
Ethereum price technical analysis
Ethereum’s daily chart shows the price climbing out of a steady downtrend. ETH is now pushing against the middle band of its Bollinger setup after spending weeks near the lower band, which often marks exhaustion in a sell-off.
Momentum is also improving. The relative strength index has moved up to 41.9, and MACD has crossed into a mild buy zone, showing the market is trying to build strength from oversold territory.
ETH trades just above its 10-day moving averages, which have flipped into short-term buy territory, while the heavier averages, from 20-day to 200-day, still lean bearish. This mix usually appears during early reversal attempts where the market starts to stabilize but hasn’t fully flipped trend yet.
If bulls keep price above $3,000, ETH could work toward the $3,115–$3,250 zone next. Failure to hold this level may pull the price back toward $2,850, where buyers stepped in earlier this week.
Credit: Source link
