Peter Smith
⬤ Ethereum has been trading close to the $3,000 mark as several important catalysts line up for the week ahead. Weekend trading stayed relatively quiet, but volatility may pick up soon. Three major events are on the calendar: quantitative tightening ends on December 1, Jerome Powell speaks the same day, and Ethereum's Fusaka upgrade launches on December 3. The chart shows ETH sitting just above a key support level that's been tested multiple times, confirming its importance for price stability.
⬤ The technical picture shows clear zones above and below current prices. Resistance sits between $3,200 and $3,400, where previous selloffs created strong supply pressure. If ETH stays firmly above $3,000, there's potential for a move into that resistance band. On the downside, support levels are marked at $2,800, $2,600, and lower—areas where buyers previously stepped in. These zones could catch price if the current level fails to hold.
⬤ ETH's consolidation reflects both slow weekend activity and traders waiting on macro drivers. Powell's comments and the QT ending could shift overall risk appetite across markets, while Fusaka brings a network-specific catalyst directly to Ethereum. The setup allows for movement in either direction, with $3,000 serving as the pivot point heading into these events.
⬤ This matters because Ethereum is sitting at a crossroads where technical structure meets fundamental catalysts. Holding above $3,000 could fuel bullish momentum toward higher resistance levels, while breaking down might trigger a deeper pullback to lower support zones. With multiple triggers converging at once, how ETH behaves around this level will likely set the tone for early December price action.
Peter Smith
