Ethereum Bulls Eye $3,700 as Technicals Signal Upside, But Profit-Taking Looms

Ethereum's price action as of December 12, 2025, presents a compelling narrative of bullish momentum tempered by near-term caution. The digital asset has demonstrated significant strength, registering a notable 6.7% surge over the past 24 hours to trade near the $3,320 level. This upward move has firmly placed the next major target of $3,710 within the sights of optimistic market participants. The technical foundation for this Optimism appears robust, with a confirmed bullish crossover on key Exponential Moving Averages (EMAs) signaling sustained upside potential and reinforcing the positive breakout structure that was established back on December 3rd. This structure remains fundamentally intact, suggesting the underlying trend is healthy. However, the path to $3,700 is not without its obstacles. Market analysis reveals a growing undercurrent of profit-taking risk, as indicated by rising net unrealized profit metrics across the network. This suggests that a portion of the investor base, particularly those who entered at lower price points, may be inclined to lock in gains as the price appreciates, creating selling pressure that could temporarily stall or correct the rally. This dynamic has contributed to a divided sentiment among market participants, creating a battleground between conviction buyers and profit-takers. The immediate technical hurdle lies at the $3,390 resistance level. A decisive and sustained close above this price point is widely viewed by analysts as the critical signal that would confirm strong bullish conviction and potentially catalyze the next leg up toward the $3,710 target. Until such a breakout occurs, Ethereum is likely to experience consolidation and testing within its current range. In summary, while the technical setup favors further appreciation with a clear target, traders should be mindful of the resistance near $3,390 and the overarching risk of profit-taking that could introduce volatility and delay the anticipated rally toward $3,700.

Ethereum Price Shows Promise But Faces Resistance Before $3,700 Target

Ethereum's price surged 6.7% in the past 24 hours, trading NEAR $3,320 as bulls eye a push toward $3,710. A bullish crossover on EMAs suggests further upside potential, but rising net unrealized profits hint at profit-taking risks that could delay the rally.

The breakout structure confirmed on December 3 remains intact, yet market participants appear divided. A close above $3,390 WOULD signal conviction for the next leg up, while failure to hold gains may trigger short-term liquidation cascades.

Technical indicators paint a conflicting picture—while momentum favors continuation, on-chain data shows holders sitting on substantial paper gains. The path of least resistance depends on whether institutional flows can absorb potential retail selling pressure.

Vitalik Buterin Challenges Elon Musk on Free Speech and Social Media Dynamics

Vitalik Buterin, Ethereum's founder, has publicly criticized Elon Musk's management of X (formerly Twitter), arguing the platform has devolved into a hub for coordinated hate campaigns under the guise of free speech. Buterin, often compared to Satoshi Nakamoto for his influence in crypto, expressed concerns that Musk's approach risks backlash against Core democratic values.

The debate highlights tensions between unchecked free speech and platform accountability. Buterin's critique focuses on Europe's regulatory challenges and the weaponization of social media, urging Musk to reconsider X's direction.

Dormant Ethereum ICO Wallet Turns $263 Into $2.82M After 9 Years

A wallet that participated in Ethereum's 2015 initial coin offering (ICO) and remained inactive for nearly a decade has suddenly transferred its holdings to Coinbase. The initial investment of $263 has ballooned to $2.82 million—a staggering 10,684x return.

Blockchain analytics platforms Lookonchain and Whale Alert flagged the movement, noting the wallet's inactivity since Ethereum's genesis. The transfer coincides with renewed institutional interest in ETH, now trading at multi-year highs amid broader crypto market gains.

Ethereum Co-founder Vitalik Buterin Criticizes X for Fueling Coordinated Hate Campaigns

Vitalik Buterin, co-founder of Ethereum, has publicly criticized X, the social media platform owned by Elon Musk, for deviating from its free-speech mission and amplifying coordinated hate campaigns. In a December 9 post, Buterin warned that the platform is being weaponized to delegitimize entire regions, particularly Europe, through mass harassment rather than fostering open debate.

Buterin's concerns highlight a growing disconnect between X's rhetoric and reality. He previously raised alarms about the platform's country-label feature, which he argued could be exploited for political manipulation. The issue has sparked debate among users, with some defending unfettered free speech while others, like Micah Zoltu, challenge Buterin's stance.

The ethereum co-founder's remarks underscore broader tensions in the crypto community over the balance between free expression and the prevention of harmful discourse. His warning to Musk—that turning X into a "death star laser for coordinated hate sessions" risks backlash against core values—reflects deepening unease about the platform's direction.

Vitalik Buterin Proposes Ethereum Gas Futures to Stabilize Transaction Costs

Ethereum co-founder Vitalik Buterin has introduced a novel proposal for an on-chain gas futures market, aiming to mitigate the volatility of transaction fees on the network. The system would enable users to hedge against price spikes by locking in gas costs for future blocks or time periods, particularly during high-demand events like NFT drops or DeFi surges.

The Fusaka upgrade, designed to address Ethereum's scalability challenges, complements this proposal by streamlining the user experience. Together, these developments could transform Ethereum into a more efficient settlement layer for Layer 2 solutions while providing cost predictability for everyday users and institutional participants alike.

Gas futures would operate similarly to traditional derivatives contracts, creating a trustless mechanism for fee management. This innovation marks another step in Ethereum's evolution from a proof-of-work network to a scalable foundation for decentralized finance.

Ethereum Eyes Breakout as Institutional Demand Surges

Ethereum's price surged 25% from November lows, buoyed by $177.6 million in spot ETF inflows—the highest single-day volume in six weeks. Technical patterns suggest further upside, with crypto Batman identifying a weekly inverse head-and-shoulders formation targeting $4,062, a 25% gain from current levels.

Exchange balances hit record lows as investors withdraw ETH, reducing sell pressure. BitMine's Tom Lee continues accumulating positions, aiming to control 5% of supply, while major wirehouses now offer crypto ETFs to clients—a tacit endorsement of institutional adoption.