December 30, 2025

Since ETH bottomed out on 11.21 and escaped the top on 12.11, its market movement has been very sluggish, struggling to break out of a clear trend.

If you notice a period where the market moves very sluggishly, it is likely in the process of adjusting a previous trend. The longer the sluggish period lasts, the larger the adjustment level.

As shown in the chart, ETH is currently in consolidation. If it follows the red route, there will be no deep retracement afterward, and after sideways consolidation, a new wave of upward movement will begin.

If it follows the blue route, it might test the lows more deeply, around 2850, or test the previous low near 2772 to confirm its validity. Once confirmed, an upward move will start.

Both routes lead to the same destination. If ETH retraces again, the extent is unpredictable, but after the adjustment ends, there is a high probability of another upward wave. Moreover, this adjustment is likely to conclude within this week.

Some friends might be wondering, can't it just drop directly here, break below the 2600 low, and continue to find a bottom?

Of course, it can. But I currently do not see it that way. If there is no significant rally by the end of this week and next week, I will consider that scenario. Until then, this trend should only be regarded as a risk management factor and not the main basis for trading decisions. #ETH走势分析 $ETH