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Ethereum’s ascent stalls at $3,446, a king dethroned. The rising trendline, a loyal subject since April, lies broken. Once a bastion of higher lows, its collapse whispers of mutiny in the market, hinting at a shift in power. The bulls’ grip loosens.
Derivatives hint at bulls digging in, but don’t mistake this for a rally. It’s more of a desperate defense at the breakdown’s edge. A true comeback requires a surge back above the trendline, otherwise, the bears will maintain their grip.
Source: TradingView
Ethereum trades below all major EMAs on the daily chart:
- 20-day EMA: $3,720
- 50-day EMA: $3,935
- 100-day EMA: $3,900
- 200-day EMA: $3,597
“The 200 EMA is the immediate battleground. Conquer it, and the bulls might just seize control. But beware, the Supertrend indicator still bleeds red, a stark reminder that the tide hasn’t fully turned.”
Break above $3,935, and the bears scatter. That’s the price point needed to shatter the Supertrend resistance and reclaim the 50-day EMA, potentially igniting the first true trend reversal since autumn’s leaves began to fall.
Derivatives Data Shows Real Positioning, Not Short-Covering
Source: Coinglass
Derivatives flows confirm aggressive positioning toward longs:
- Open interest: up 4.15% to $39.83B
- Futures volume: up 4.68% to $94.50B
- Options OI: up 1.88% to $12.19B
A seismic shift is underway. Forget cautious optimism – the market’s buzzing with outright bullishness. And the source? Look no further than a whale, a legendary short-seller who predicted the tariff storm, now betting big on ETH. This isn’t a toe-dip; it’s a $138 million plunge into a long position at $3,445. Whales of this caliber don’t gamble. They identify turning points. This monster trade screams one thing: prepare for liftoff.
The whale who shorted before Trump tariffs is now going long on $ETH.
Ethereum long position: $138 million He definitely knows something. pic.twitter.com/HQ8BUzVVGQ BitBull (@AkaBull_) November 8, 2025
Intraday Momentum Turns Constructive
Source: TradingView
On the 30-minute chart, ETH holds above VWAP.
- RSI sits near 55, indicating strengthening intraday momentum
- Higher lows continue to form, showing buyers stepping up on dips
- Immediate micro support sits at $3,431
Clearing $3,500 is the key – unlock that level, and the 200-day EMA at $3,597 becomes the next battleground. Conquer the 200-day EMA, and the bulls are back in the driver’s seat, wrestling control of the trend from the bears.
Key Levels To Watch
| Zone | Level | Importance |
| Support | $3,300 | Rising trendline and structural higher-low |
| First resistance | $3,597 | 200-day EMA |
| Breakout zone | $3,935 | 50-day EMA + descending trendline + Supertrend flip |
| Upside target | $4,400 then $4,800 | Continuation toward prior swing highs |
| Invalidation | Below $3,300 | Break of higher-low structure |
Will Ethereum Go Up?
Ethereum’s ascent since April hit a snag, tumbling below a key rising trendline. Now, all eyes are on whether bulls can wrestle back control and forge a new launching pad for a comeback.
- Bullish case:A daily close above $3,935 breaks the compression and confirms bullish continuation toward $4,400 and $4,800.
- Bearish case:Losing $3,300 invalidates the trendline and exposes $3,000 – $2,800, the prior accumulation range.
Related: Ethereum Price Prediction: Breakdown Accelerates As Bulls Lose $3,400 Level
Heads up! This isn’t your investment advisor speaking. We’re just sharing insights and sparking conversation. Think of this as educational exploration, not financial gospel. Coin Edition isn’t liable for any investment decisions you make based on this information. Do your homework, tread carefully, and remember: your financial journey is your own.
Thanks for reading Ethereum Price Outlook: Struggling to Reclaim Broken Trendline as Long Positions Build
