Ethereum’s Crucial Juncture: Support Test Holds Key to Next Major Rally
As of December 15, 2025, ethereum (ETH) finds itself at a critical technical crossroads, trading near $3,089 after a modest 1.2% decline over the past 24 hours. The focal point for traders and analysts is the robust support level at $3,020, which has demonstrated remarkable resilience during recent market corrections. This level has repeatedly acted as a springboard for price recoveries, making its integrity paramount for bullish sentiment. A decisive breach below this threshold could trigger a swift retest of the psychologically significant $3,000 mark, potentially inviting further selling pressure. Conversely, the immediate upside is capped by resistance around $3,400. A convincing breakout above this barrier is viewed as the necessary catalyst to propel ETH toward its next major target near $3,380, a move that would signify a resumption of the broader uptrend. Market activity, as reflected in the subdued 24-hour trading volume of approximately $11 billion, indicates a period of cautious consolidation and watchful participation. This lull in volume often precedes significant directional moves, as market participants await a clear signal. Within this context, Elliott Wave Theory practitioners are generating considerable speculation, identifying the potential setup for a powerful 'Wave 3' advance. In Elliott Wave analysis, Wave 3 is typically the most dynamic and extended phase of a bullish impulse sequence, often characterized by strong momentum, high volume, and widespread investor participation. The theory suggests that if the current consolidation around support represents the completion of a corrective Wave 2, the subsequent Wave 3 rally could drive prices substantially higher, far exceeding the recent $3,380 target. The convergence of a key support test, defined resistance levels, and the prospect of a classic Elliott Wave pattern places Ethereum in a strategically important position. The outcome of the battle at the $3,020-$3,400 range will likely determine the medium-term trajectory for the asset. A successful defense of support, followed by a volume-backed surge past $3,400, would not only validate the bullish Wave 3 hypothesis but could also unlock the next leg of a significant rally, drawing in renewed institutional and retail interest. All eyes remain fixed on these technical levels as the market gauges whether Ethereum is merely pausing before its next major ascent or if it requires a deeper correction to gather strength for future gains.
Ethereum Tests Key Support Amid Wave 3 Rally Speculation
Ethereum hovers NEAR $3,089, down 1.2% in 24 hours, as traders watch the $3,020 support level—a threshold that has repeatedly held during recent corrections. A break below risks retesting $3,000, while surpassing $3,400 resistance could propel ETH toward $3,380. Volume remains subdued at $11 billion, signaling cautious market participation.
Elliott Wave theorists eye a potential Wave 3 rally, a phase historically marked by vertical price surges. Meanwhile, institutional interest persists: Ethereum spot ETFs recorded $209 million in net inflows last week, with BlackRock’s ETHA dominating at $139 million. The asset’s trajectory now hinges on whether it can consolidate above $3,150 or faces another liquidity test at lower bounds.
JPMorgan Launches $100M Tokenized Fund on Ethereum
JPMorgan Chase has seeded its first tokenized money market fund with $100 million, deploying it directly on the Ethereum blockchain. The MOVE marks a strategic pivot by the $4 trillion banking giant, treating public blockchain infrastructure as a scalable solution for institutional finance rather than a speculative experiment.
Qualified investors can now trade fund shares as digital tokens, enabling near-instant settlements—a stark efficiency upgrade over legacy systems. Ethereum's role as the underlying network underscores its growing institutional validation beyond decentralized finance niches.
