Ethereum’s Wild Ride: Will $3,700 Be the Next Stop or Just Another Pit Stop?

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Ethereum (ETH) is currently cruising around $3,140, like a seasoned driver navigating a hairpin turn. It’s holding steady above a zone that used to be resistance – now it’s got a new role as “please, don’t crash here, support.” Analysts are practically camping out to see if this level can turn into the cozy little cushion ETH needs to launch itself toward the glorious $3,700. 🚀

Meanwhile, the asset is down nearly 2% in the last 24 hours. Yep, you heard that right – almost 2%. So much for living the dream, right? But don’t despair, it has gained 5% over the past week. Daily trading volume? A modest $24.2 billion. Just pocket change for the crypto giants. 💸

Support Retest: Will Ethereum Stick the Landing? 🤞

Analyst Michaël van de Poppe, probably sitting on a comfy chair with a coffee, is waving around a chart showing ETH reclaiming the $3,050-$3,150 range. This area, once resistance, is now under the microscope as support. According to van de Poppe, if Ethereum can stay above this range, it suggests buyers are entering the market like a superhero swooping in just in time. So, eyes are on $3,700 now. Get your popcorn ready. 🍿

“I’d love to see $ETH hold this previous resistance zone as support.”

What does that say?

Well, it says buyers are a bit more daring than they were last week, and that could lead to a rally straight to $3,700.

– Michaël van de Poppe (@CryptoMichNL) December 4, 2025

If Ethereum doesn’t manage to keep its current footing, don’t worry. Nearby support zones at $2,630 and $2,400 are hanging out like safety nets. For now, the price is holding steady, and the RSI (Relative Strength Index) is giving the thumbs-up for this uptrend. 😎

Breaking Free: Eyes on $4,800 and Beyond! 💥

Ali Martinez, market analyst extraordinaire, has drawn a weekly chart showing ETH bouncing off the under $3,000 mark, much like a ping-pong ball in a wind tunnel. But here’s the kicker: the real action starts at $4,800. That’s the magic number for ETH to break through before the crypto world starts whispering about $6,800 and $8,800. And if you’re feeling really adventurous, Martinez even mentioned the possibility of a $62,000 ETH. But, of course, that’s a long shot depending on how things play out. 🤔

Meanwhile, Clifton FX is hyped up about a breakout from a falling wedge pattern. If the trend continues, they’re eyeing the $5,000 mark like it’s a golden ticket. 🍫

Merlijn The Trader has noticed a bullish MACD crossover, the first since September. He’s practically throwing confetti because Ethereum just held support between $2,700 and $2,900 and shot up to $3,200. He’s keeping an eye on $3,900 as a key resistance point. If Ethereum manages to break that, well, we might be witnessing a full trend reversal, which is as exciting as watching a soap opera, but with more numbers. 📈

The chart also shows ETH proudly trading above its moving averages, like it’s wearing a crown, and the rise in volume is supporting the ongoing recovery. Let’s hope it’s not just a fluke. 👑

Sentiment in Check: Ethereum Still Hanging On 🏋️‍♂️

CryptoWZRD, probably wielding some kind of magical crypto wand, pointed out that both ETH and ETHBTC closed without much drama. ETHBTC is still above a key trendline, and they’ve marked $3,700 as the next big resistance. As for support, they’re sticking with $2,800. No surprises there.

On-chain data is giving us a thumbs-up with Ethereum’s NUPL (Net Unrealized Profit/Loss) at 0.22. In layman’s terms: Most ETH holders are chilling in profit territory. No signs of panic (yet). Fundstrat’s Tom Lee is sitting comfortably in his prediction chair, forecasting a $20,000 ETH by 2026. That’s based on the notion that tokenization is going to take over the world. Or at least the crypto world. 🤑

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2025-12-05 18:33