Ethereum held above $3,200 this week as trading volume surged ~45% to multi‑week highs. Institutional accumulation and rising staking levels tightened liquid supply while technical patterns (symmetrical triangle, bull flag) set clear upside and downside thresholds. The combination of on‑chain strength and concentrated flows positions ETH for a meaningful directional move in the near term.

Late-December activity shows ETH trading in a narrow $2.8K–$3.1K band amid record-low exchange balances, notable spot-ETF inflows, and the Fusaka upgrade. These concrete on-chain and institutional flows are underpinning volatile yet range-bound price action.

Ethereum climbed sharply over the past week as the Fusaka upgrade reduced Layer‑2 costs and major spot ETF inflows coincided with record-low exchange balances. Those concrete events compressed sell-side supply and supported a volatile but bullish price swing from roughly $2,860 to highs near $3,680 before settling into the low-$3,000s.

A week of sharp swings left ETH trading near $2,900 as a $592M wave of forced liquidations, a cautious Fed tone and profit-taking trimmed an earlier Fusaka-driven rally. Supply on exchanges hit multi-year lows while institutional demand and ETF inflows remain tailwinds.

Ethereum climbed sharply this week as Fed rate-cut expectations and a large short squeeze pushed prices above $3,100 while the CFTC’s approval of spot crypto contracts signaled increased institutional access. Technical accumulation, liquidation dynamics and regulatory clarity combined to drive higher volume and tighter institutional flows.

Ethereum fell more than 7% to roughly $2,800 on Dec 1 amid a broad crypto sell-off driven by ETF outflows, deleveraging and thin liquidity. A modest rebound to around $2,807 the next day suggests a near-term support zone, while traders should monitor ETF flows, funding rates and BTC correlation for the next directional cues.