Key Insights
- Ethereum (ETH) needs to sustain momentum above $3000 or risk sliding below the $2,800 support level, said Ted Pillows in his latest Ethereum price prediction.
- The analyst who doubles as a trader warned buyers to provide enough strength for the price to move upwards and overcome the sell wall between $3,100 – $3,300.
- Bitmine, led by Tom Lee, made a big move today, buying 22,676 Ethereum worth $68.7 million. In just 24 hours, the company’s total ETH holdings jumped to 64,622, valued at nearly $200 million.
In the latest Ethereum price prediction by top analyst Ted Pillows, ETH needs to sustain momentum above $3000 or risk sliding below the $2,800 support level.
At the time of writing, the largest altcoin by market cap hovered slightly above $3000 amidst Bitmine purchasing an additional $199 million worth of ETH for its treasury.
Zooming out of the technical charts, investor confidence lies on the cautious side with the Crypto Fear & Greed Index indicating intense fear at 22.
A few experts have blamed the overall negative crypto sentiment to bleeding institutional products with Bitcoin (BTC) ETFs leading with the highest withdrawals since November totaling $2.7 billion.
Ethereum Price Prediction: $3,000 or Drop to $2,800?
As per the latest expert Ethereum price prediction by Ted Pillows, Ethereum must hold steady past $3,000.
Failure to do so, the altcoin could lose the psychological level and slip towards the key support zone around $2,800. The expert noted that the $3,000 continues to be a critical level for Ethereum (ETH) bulls.
The analyst who doubles as a trader warned buyers to provide enough strength for the price to move upwards and overcome the sell wall between $3,100 – $3,300.
Any direction past the critical point could shape the next big move for the largest altcoin by market capitalization, said the expert.
As we entered the weekend, the cryptocurrency held steady near $3,031 only trading within a narrow range.
Meanwhile, the bulls attempted to push the price past resistance at $3,100, which if successful might have helped flip $3,300 into support.
Zooming into the technical indicators, the MACD indicates a bearish crossover after crossing the signal line from above downwards.
This is a major bear signal that hints towards bearish pressure. Meanwhile, the Relative Strength Index points at 46, below the neutral 50 level.
Bitmine Adds More Ethereum (ETH) Holdings To its Portfolio
Bitmine, led by Tom Lee, made a big move today, buying 22,676 Ethereum worth $68.7 million. In just 24 hours, the company’s total ETH holdings jumped to 64,622, valued at nearly $200 million.
The latest batch moved from BitGo’s hot wallet to Bitmine’s wallet only hours ago. Ethereum’s price has been volatile, but Bitmine’s big buy shows confidence in ETH’s future.
Picking up so much in one day also highlights Bitmine’s strong position in the crypto market.
The latest purchase follows Bitmine’s $150 million Ethereum buy on Wednesday, which helped push the company’s stock into double-digit gains.
The move comes shortly after the Fusaka blockchain upgrade, the network’s second major enhancement this year.
Led by Chairman Tom Lee and supported by Peter Thiel’s Founders Fund and Cathie Wood’s ARK, Bitmine said on Monday it is “accelerating its Ethereum accumulation” ahead of the upgrade.
The company aims to strengthen the $385 billion Ethereum network and seize upcoming opportunities.
Source: https://www.thecoinrepublic.com/2025/12/07/ethereum-price-prediction-can-eth-stay-above-3000/
