Ethereum Price Prediction Ahead of US data Report

Ethereum price hovered above $3,200 during early Wednesday trade as the market showed signs of consolidation following recent gains. The asset has maintained a steady position after an upward push, with traders cautiously awaiting high-impact economic reports from the United States.

The recent price action indicates a more intense interest by buyers in levels of critical support. Although a larger market structure of Ethereum remains corrective, the technical signals denote the increasing bullish momentum.

Other significant cryptocurrencies, such as Bitcoin (BTC), Solana (SOL), and Ripple (XRP), are also halted around their respective resistance levels. Bitcoin price hovered around $92,000, with a temporary cooldown following its upward move.

Ethereum Price Steady as Traders Brace for US Data

The mood of investors is still on the downside as various economic reports in the US are resolved to be released. These are the ADP Employment Change, ISM Services PMI, Factory Orders, and JOLTS Job Openings survey. 

These figures may affect the future policy of the Federal Reserve and predetermine the course of the crypto market in the weekend.

The entire crypto market is slightly on a pullback as traders are aggressively booking profits and repositioning in advance of the next couple of reports. 

But the anticipation of further monetary expansion by the Federal Reserve has cushioned the slump on the negative side.

To further confuse, the situation of global sentiment in the geopolitical tensions is still being felt. During the weekend, US military forces eliminated the Venezuelan President Nicolás Maduro. 

President Donald Trump confirmed a deal with Venezuela, dealing with oil supply of up to 50 million barrels to the US on a late Tuesday announcement.

Up to now, recent US statistics depict a decelerating economic activity. The December S&P Global PMI surveys indicated a weaker business momentum, which strengthened the use of the dovish policy by the Fed.

Morgan Stanley Files for Ethereum Trust with SEC

Morgan Stanley has officially filed an S-1 registration with the SEC for an Ethereum Trust.

This step allows institutional exposure to ETH. The $1.3 trillion asset manager keeps expanding into crypto after Bitcoin and Solana filings.

The Ethereum Trust filing is in the context of increasingly high investor eagerness and speculation of potential Ethereum ETF approvals in 2026.

Will Ether Price Hold $3,200 Level?

The ETH price hovered at $3,222, maintaining a surge after a steady week of bullish trend.

The MACD indicator has begun to print red bars on the histogram, and the MACD line has crossed over the signal line. It is an indicator of weak bearish divergence, but not yet a powerful downward slope.

In the meantime, RSI is at 57, which compares to the recent highs of above 70. This is a cooling impetus, though no indications of oversold conditions.

If bulls regain dominance, the next resistance targets sit at $3,300 and $3,500. Any failure to hold above $3,200 may trigger a retest of the $3,000 level.