Ethereum Holds $2,918 Support: Next Levels to Watch

Ethereum (ETH) defends the vital $2,918 support as December 2025 begins. Trading near $3,020 on November 27, ETH shows reversal potential amid Fed easing. 

This level has proven resilient in 2025, drawing buyers during dips. For those tracking Ethereum $2,918 support, it's a prime entry for ETH technical levels ahead.

Want to trade crypto while reading our latest news? Head over to Bitrue and explore your options today!

Bullish Close Sets Stage for December Gains

November 2025 wrapped with ETH up 7%, hitting $3,870 by month-end despite volatility. Historical data supports December strength, with experts forecasting 10% more upside to $3,980. 

On-chain activity surged, including DeFi usage and staking demand, fueling optimism as ETH enters its traditional strong quarter.

Key November Metrics Driving December Momentum

• ETH price rose 7% to $3,870, per CoinDCX analysis

• Stablecoin transactions hit $2.82 trillion in October, signaling tokenized finance growth

• Institutional holdings topped $13 billion, boosting network utility

NUPL Hits Key Lows

Net Unrealized Profit/Loss (NUPL) fell to 0.39 in late November, down 9.3% from October peaks. Nearing the 0.38 threshold that sparked a prior 13% rally, this metric indicates fading sell incentives.

Holders face fewer unrealized gains, reducing profit-taking urgency around Ethereum $2,918 support.

Read Also: What is ETH6900 and Why Its Price Jumped 99K Percent?

Whales Lead Accumulation

Santiment tracks whales (1,000–100,000 ETH wallets) adding 1.64 million ETH, $6.4 billion worth, through November dips. 

Exchange reserves dropped to 15.6 million ETH, a 55-month low, confirming accumulation. Long-term holders trimmed slightly, but whale buys dominate, per CryptoQuant data.

On-Chain Signals for ETH Outlook

• Over 3.8 million ETH moved off exchanges in Q1, with 17 million more added by long-term wallets in 2025

• Accumulation Addresses Realized Price at $2,895, just 8% below current levels

• Daily active addresses averaged 485,000, up 12% quarter-over-quarter

Technical Analysis

ETH's weekly chart confirms a bounce from $2,850–$2,918, with RSI exiting oversold below 30. The 50-day moving average trends up, while MACD shows bullish divergence. 

Holding this support eyes a channel breakout, aligning with December forecasts of $3,389 by mid-month.

Essential ETH Technical Levels

• Support: $2,918 (primary), $2,895 (accumulation basis), $2,700 (deeper floor)

• Resistance: $3,250, $3,389, $3,980 (month-end target)

• Upside potential: $4,300–$4,800 post-Fusaka upgrade

Exchange Supply Decline Bolsters Bullish Case

CoinGlass data shows ETH on centralized exchanges at multi-month lows since August 2025. This outflow, over 3.8 million ETH in recent quarters, signals conviction among holders. 

Lower supply often precedes rallies, enhancing ETH staking appeal and price stability in December. Bitcoin dominance eased to 58%, from 61% in early November, paving way for altseason. Combined with on-chain growth, this setup favors ETH over BTC in Q4.

Macro Tailwinds: Fed QE Launch

The Federal Reserve ends quantitative tightening December 1, 2025, injecting liquidity via a 25bps rate cut. This pivot boosts risk assets like crypto, historically sparking rallies. 

Analysts see it solidifying the bull market, with easier money flowing to ETH amid year-end positioning.

Fed Policy's Crypto Impact

• QT end removes liquidity drain, echoing 2020–2021 surges

• Weaker USD strengthens ETH as a hedge

• Institutional funds may add exposure for 2025 returns

Read Also: Is Ethereum Slowly Recovering?

Fusaka Upgrade: Next Level Key Catalyst

Ethereum's Fusaka upgrade activates December 3, 2025, doubling blob capacity to 14 per block for better scalability. This PeerDAS enhancement cuts fees and boosts throughput, per core developers. Expect heightened activity, with TVL in DeFi protocols already at $72.64 billion.

Lower costs could drive more stablecoin and NFT volume, pushing ETH toward $4,500 if resistance breaks. Monitor post-upgrade metrics for confirmation.

ETH Staking: Earn Yields Near $2,918 Support

With 34.8 million ETH staked yielding 3–6% APR, December offers stable returns amid volatility. Exit queues at $1.78 billion reflect demand. Platforms like Bitrue provide flexible staking up to 15% APY, ideal for holders defending Ethereum $2,918 support.

Liquid staking options let users earn while trading, compounding network security as Fusaka nears. This strategy turns consolidation into opportunity.

Next Targets: From $3,389 to $4,500 Potential

Focus on $3,250 for initial upside; clearing it targets $3,389 by December 26 (+11.67%). Longer-term, $3,980 by month-end, with $4,300–$4,500 possible post-upgrade. 

Downside risks test $2,895 if support fails, but on-chain strength limits drops. Volume spikes and ETF inflows will confirm breaks. Align with RSI above 45 and MACD positivity for entries.

Read Also: Top 10 Ethereum Treasuries in 2025: Here’s The List!

Conclusion

Ethereum's hold at $2,918 support, backed by whale accumulation, Fed liquidity, and Fusaka's scalability boost, signals strong December potential. Forecasts eye $3,900–$4,500, driven by altseason and easing policy. 

While volatility persists, on-chain metrics favor bulls. Stake your ETH for yields during this phase, platforms like Bitrue offer secure, rewarding options to capitalize on the upside.

FAQ

Why is the $2,918 level so important for Ethereum right now?

It’s ETH’s strongest 2025 support zone, backed by whale accumulation, low exchange supply, and bullish indicators like RSI recovery.

What targets come into play if ETH holds above $2,918?

Clearing $3,250 opens the door to $3,389, then $3,980. Post-Fusaka momentum could extend toward $4,300–$4,500.

How does NUPL affect ETH’s December outlook?

NUPL near 0.38 shows holders sitting on fewer unrealized gains, reducing sell pressure and supporting a breakout from the $2,918 zone.

What role do whales play in ETH’s current trend?

Whale wallets added 1.64M ETH in November dips while exchange reserves hit a 55-month low, classic accumulation fueling upside setups.

How does the Fusaka upgrade impact ETH price action?

Doubling blob capacity boosts scalability, cuts fees, and increases on-chain demand, helping ETH push toward the $4,500 range if resistance levels flip.

Bitrue Official Website: 

Website: https://www.bitrue.com/

Sign Up: https://www.bitrue.com/user/register

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.