Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The price of Ethereum is up 6.7% in the last 24 hours and is trading near $3,320. The move follows a breakout structure confirmed on December 3, which still points to $3,710.
But now mixed signals indicate that growth may last longer.
Sponsored
Sponsored
The breakout structure is underway as the bullish transition approaches
He continues Ethereum price Moving into the same reversal detection system that was formed at the end of November. This decision remained in effect after December 3 because the right shoulder support at $2,710 persisted. The structure only weakens if ETH falls below this level.
A major catalyst is now the bullish crossover that is forming between the 20-period Exponential Moving Average (EMA) and the 50-period EMA. The Exponential Moving Average, or EMA, tracks price with additional weight on recent candles.
A bullish cross usually indicates that the buyers are stronger and the momentum may continue in the same direction. This catalyst may push the price of ETH higher, towards the expected target of $3,710.
Want more icon insights like these? Subscribe to publisher Harsh Notaria’s Crypto newsletter here.
Sponsored
Sponsored
But this overlap will only form if the sellers do not intervene. A gauge on the chain shows why caution should be exercised.
High paper profits create a profit window
Ethereum’s Net Unrealized Profit/Loss (NUPL) measures the “paper profit” held by all ETH wallets. As NUPL grows, more holders have a reason to sell because they receive larger unrealized gains.
ETH’s NUPL index has now reached 0.296, pushing it into optimistic and anxious territory. This is the highest reading since early November.
Sponsored
Sponsored
The last time NUPL reached a similar level – on December 3 – ETH fell about 5.2% in two days, as profits were booked by holders.
A similar setting appears now. Profitability is growing again while ETH is near resistance. This increases the likelihood that some players will sell before the upward movement is over. If this happens, the crossover may fail, and momentum may stall even if the rupture structure remains intact. This explains the long wait.
Sponsored
Sponsored
Key Ethereum price levels: what will pave the way to $3,710 – and what will break it
If the bullish cross is complete and the NUPL pressure remains limited, the price of Ethereum has a clear upward trajectory:
- A 12-hour close above $3,390 is the first signal
- The next resistance is at $3,570
- Breaking above $3,570 opens a full move towards $3,710, the expectation measured at 20% from the breakout point.
If sales increase instead, the structure weakens. ETH remains valid above $2,710, but a move below $2,610 invalidates the setup and signals a deeper pullback.
Right now, ETH is caught between two forces: a bullish crossover that could push it toward $3,710, and a rising fiat gain that could delay the move. The next few sessions will determine which side leads.
