Ethereum Holds Key Structure As Bulls Refuse To Fold

Ethereum (ETH) remains technically constructive on the weekly timeframe, despite months of choppy price action that has tested investor patience.

Indeed, the broader ETH structure still doesn’t justify abandoning the bullish thesis, according to the analysis shared by renowned cryptocurrency trading expert CryptoJelleNL in an X post on December 19.

Ethereum’s Weekly Structure Hasn’t Broken

On the weekly chart, Ethereum continues to respect a long-term range that has defined price action throughout 2024 and into 2025. While ETH recently rejected from the upper boundary of this range, the pullback has so far remained controlled, with the price stabilizing near a former resistance zone that has now flipped into support.

This behavior matters as failed breakouts typically unravel quickly, slicing through prior support with momentum. Ethereum, however, is doing the opposite, absorbing selling pressure and holding its structure rather than cascading lower.

The chart also shows ETH maintaining higher lows on a macro basis, reinforcing the idea that buyers remain active on dips. A previously dominant descending trendline has already been invalidated, and the price hasn’t reclaimed it as resistance, another sign that downside momentum has weakened.

Why Bulls Are Still Watching Closely

At the moment, Ethereum is trading at the price of $2,951.75, which represents a gain of 3.29% on the day, a 9.12% decline across the week, and an accumulated loss of 4.65% over the past month, per the latest chart data.

From a market-structure perspective, Ethereum looks more like an asset consolidating gains than one entering a prolonged downtrend. As long as the price holds above the mid-range support zone, the path remains open for another attempt toward the upper resistance band.

CryptoJelleNL summed up the sentiment succinctly: abandoning ETH while the weekly chart still looks intact would be premature. In short, Ethereum may not be moving fast, but technically, it’s still moving in the right direction. Until the weekly structure breaks decisively, the bull case remains alive.

More Must-Reads:

• Bitcoin’s Next Bounce Zone? $84.4K Has A Crowd
• DOGE May Be Quietly Setting a Trap
• XRP Faces Carnage If This Support Breaks