Only a move above $3,658 can show that a stronger trend is finally forming.
At press time, ETH was trading around $3,040, but the chart still shows weakness, and the latest Ethereum price prediction reflects that. Several signals point to the idea that the real bottom may not be here yet.
A weaker area sits near $2,476, which is about 18% lower than now. Traders are watching this zone because many key levels meet here.
The problem today is simple. Big buying and big selling are happening at the same time. Because of this, the market is not getting a clear direction. Until this changes, Ethereum stays stuck in a wide range instead of forming a clean recovery.
Some large players are still buying Ethereum. BitMine has picked up a huge amount of ETH in the past few weeks.
They are using this as long-term exposure to Ethereum, and their buying normally helps the market. It is worth mentioning that amid the market weakness, BitMine has been the only large loyal ETH buyer.
But other large players are doing the opposite.
Sharplink and a few other companies linked to big treasuries have been selling ETH while their stock prices keep falling. When one group buys and another group sells at the same time, the market does not move with strength. This is why the Ethereum price feels stuck.
ETH also trades below its realized price of $2,316. The realized price is the average price at which most holders bought their ETH.
When the price stays below this line, it shows the market is still under pressure.
Leverage traders are adding more context and even weakness. Many high-risk traders keep taking long positions, and these positions keep getting liquidated.
Long liquidations like these also eat into rebound attempts. One large wallet holding 25x ETH longs has been liquidated again and again.
These liquidations show that the market is still clearing out weak bets instead of building a strong base.
A key indicator called SOPR (Spent Output Profit Ratio) shows the pressure very clearly. SOPR tracks whether people are selling at a profit or a loss.
Between Nov. 4 and Nov. 15, ETH made a lower low on the chart, and SOPR also made a lower low. This means many traders sold their coins at a loss during that period.
Loss selling like this usually happens before the final bottom, not after. It means the market may still need one more wave of weakness to shake out the last group of sellers.
At the same time, long traders are not stepping back. More liquidations are happening almost every day. This pattern usually appears when the market is trying to clean itself before forming a stable bottom.
Per the lastest Ethereum price prediction, the deeper support sits near $2,476. This area matches a strong Fibonacci zone and older reaction points on the chart. If the selling continues, ETH may test this level before a real recovery starts.
Ethereum has one clear number for a recovery: $3,658. If ETH can move above this level with strong demand, the structure changes. It tells traders that buyers have taken control again.
But anything under $3,658 still keeps the pressure alive. Every bounce below this line can fail, because the bigger trend is not ready to turn.
The ETF story helps only in the long run. BlackRock’s coming Staked ETH ETF is positive for future demand, but it cannot stop short-term weakness if selling and loss pressure continue.
For now, Ethereum price prediction signals show early signs of stress, mixed with small rebound attempts.
The clean bottom may still sit about 18% lower unless the chart breaks above $3,658 with real strength.
Read more on The Coin Republic
