Ethereum is trading near $2,970, locked in a tight range after another rejection from the $3,050–$3,150 resistance area.
The chart shows repeated attempts to reclaim this zone, followed by quick pullbacks, keeping price trapped beneath a clearly defined ceiling.
Momentum indicators reflect hesitation rather than weakness. The 14-day RSI around 45 points to neutrality, while volatility remains moderate.
Ethereum isn’t selling off aggressively, but buyers haven’t proven they can take control either. This kind of structure usually signals preparation, not resolution.
According to Michaël van de Poppe, that resolution hinges on one level.
Michaël van de Poppe: Ethereum needs one clean break
Van de Poppe notes that Ethereum looks ready for a strong upward move once it breaks through the $3,050–$3,150 resistance zone. If that barrier is cleared and accepted as support, he sees a path opening toward the $3,700 region.
$ETH looks ready for a strong breakout upwards once it gets through this resistance zone at $3,050-3,150.
If that happens, then I don't see a reason to not run to $3,700.
Lower timeframes are building up strongly as well. pic.twitter.com/HCKVjXy9L9
— Michaël van de Poppe (@CryptoMichNL) December 29, 2025
Importantly, he highlights that lower timeframes are already trending upward, suggesting accumulation under resistance rather than distribution. In practical terms, Ethereum is building pressure. The market isn’t panicking, it’s waiting for confirmation.
That confirmation matters well beyond ETH itself.
TOTAL3 vs Ethereum: where the broader market decides
A chart shared by CryptoELITES shows TOTAL3, the total crypto market cap excluding Bitcoin and Ethereum, sitting directly on a long-term trendline that has defined previous cycles.
TOTAL3 vs ETH.
Price is sitting right on a key trendline that has defined past cycles.
From here, the market usually makes its decision.A clean hold could open the door for a broader altcoin expansion.
Losing this level would likely signal deeper downside.This is a… pic.twitter.com/EPMj45o8mN
— CryptoELlTES (@CryptooELITES) December 29, 2025
This level has acted as a pivot point historically:
- Holding the trendline has preceded broad altcoin expansion.
- Losing it has led to deeper downside and prolonged underperformance.
Right now, TOTAL3 is neither bouncing nor breaking. It’s pressing the level, coiling tightly, a classic make-or-break setup.
How Ethereum ties the entire setup together
The connection between these charts is straightforward.
If Ethereum breaks above $3,050–$3,150, as van de Poppe outlines, it would likely coincide with TOTAL3 defending its long-term support. That combination has historically marked the beginning of wider altcoin strength.
If Ethereum fails again and rolls lower, the risk increases that TOTAL3 loses its trendline, delaying any meaningful altcoin recovery and reinforcing defensive positioning.
In other words, Ethereum isn’t just trading its own range. It’s acting as the trigger asset for the rest of the market.
Why this moment matters
What stands out is not fear, it’s compression.
Ethereum is coiling below resistance. TOTAL3 is resting on a cycle-defining level. Momentum is quietly building on lower timeframes.
Markets don’t pause like this without reason. This kind of structure usually resolves with expansion, not drift, but direction still needs confirmation.
For now, the entire market narrative narrows to a single question:
Can Ethereum reclaim $3,050–$3,150?
If it does, history suggests altcoins won’t stay quiet for long. If it doesn’t, patience may be tested before the next opportunity appears.
