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Ethereum (ETH) has surrendered 12% in the past week, plunging below $3,400 to hover near $3,331, as profit-taking and macro jitters test the resolve of bulls. This correction echoes Bitcoin’s woes, with traders eyeing the $3,300 support zone as a make-or-break level for near-term recovery.
The slide from October’s $3,760 peak aligns with fading rally momentum, ahead of U.S. economic data and Fed signals. Yet, resilience glimmers: On-chain metrics reveal whales scooping up 394,682 ETH—worth $1.37 billion—between November 3 and 6, per MEXC Blog, signaling smart money bets on a rebound. Glassnode data underscores this, with ETH withdrawals from exchanges surging, hinting at self-custody shifts for long-term holds. Staking on the Beacon Chain hit fresh highs in Q3, with queues overtaking exits, bolstering network security despite price dips.
Technicals paint a cautious canvas: RSI at 41 nears oversold, while MACD’s bearish crossover flattens, per Barchart indicators. Core supports cluster at $3,300–$3,250, then $3,050; resistances loom at $3,480 and $3,600. Analyst Michaël van de Poppe warns a $3,300 breach could cascade to $3,050, but a hold might spark a snapback to $3,600.
Catalysts abound: Ethereum’s ecosystem logged record activity in November, fueled by Layer-2 surges—Arbitrum and Base inflows topped charts, driving 1.56 million daily transactions. Post-shutdown, spot ETH ETFs notched first monthly inflows on November 7, injecting $240 million and eyeing more amid Fusaka upgrade hype for December scaling.
For “Ethereum price prediction November 2025” watchers, $3,300 is the frontline. Victory here could ignite a 10-15% bounce; defeat risks a 200-day MA test at $3,000. Bulls, brace up.
