Ethereum’s USD price (ETH-USD) is under renewed pressure on Wednesday, December 17, 2025, as risk appetite across crypto remains fragile and fresh data points point to weakening demand—especially from U.S.-based channels.
At the latest check, ETH was trading around $2,822, down roughly 4.4% versus the prior close, after swinging between an intraday high near $3,024 and a low near $2,793.
That puts Ethereum back in the high-$2,700s/low-$2,800s zone after spending much of the month battling the psychologically important $3,000 area—one of the most-watched lines on the chart for traders heading into year-end.
ETH Price Today: Why Ethereum Is Moving Now
Ethereum’s move on Dec. 17 is not happening in isolation. Two broader forces are shaping today’s tape:
1) Risk-off behavior is hitting crypto again
A key theme across mainstream market coverage is that crypto is trading more like a risk-sensitive asset than a defensive hedge—especially when equities wobble. Barron’s notes that major coins have continued to slide while gold has held up better, reinforcing the view that crypto’s short-term direction is still tightly linked to broader risk sentiment. [1]
Reuters also reports that investors have grown more cautious after the recent crypto selloff and are shifting toward risk-managed strategies rather than outright directional bets. [2]
2) U.S. selling pressure signals are back on the radar
Beyond macro sentiment, market participants are watching whether U.S.-based spot demand is returning—or fading. One widely followed signal is the “Coinbase premium,” which compares Coinbase pricing to offshore venues. When it turns negative, it can indicate relatively weaker U.S. bid. FXStreet points to that premium turning negative alongside ETF outflows, suggesting selling pressure has re-emerged from U.S.-linked flows. [3]
On-Chain and ETF Signals: The Data That Traders Are Reacting To
One of the most detailed snapshots circulating today comes from FXStreet’s Dec. 17 Ethereum note, which ties price weakness to declining on-chain usage and ETF flows:
- Weekly active addresses: FXStreet cites a sharp December drop, from ~440K to ~324K, levels last seen in May, and says transaction counts have also slid to July lows. [4]
- Spot ETH ETFs: The same report notes a third consecutive day of net outflows, totaling $224.78 million (citing SoSoValue), and says total net assets fell from $21.43B to $18.27B since Dec. 10. [5]
- Liquidations: FXStreet also flags roughly $104.9 million in ETH liquidations over 24 hours (with long liquidations leading), underscoring how fast leverage can amplify downside once key levels break. [6]
The takeaway traders are drawing from this mix: lower activity + persistent ETF outflows can cap rallies, because rebounds struggle without spot demand.
Ethereum Network Backdrop: Fusaka Is Live, But Price Is Still About Flows
Ethereum’s fundamentals have not stood still in 2025. In fact, the network completed a major milestone earlier this month:
- The Ethereum Foundation announced that the Fusaka network upgrade was scheduled for December 3, 2025 (21:49:11 UTC) and introduced the concept of Blob Parameter Only (BPO) forks to scale blob throughput in stages after the upgrade. [7]
- The same announcement lays out the staged BPO timeline, including BPO1 (Dec. 9, 2025) and BPO2 (Jan. 7, 2026), designed to raise blob targets/maxima over time. [8]
- Ethereum’s official roadmap highlights Fusaka’s focus on PeerDAS, BPO forks, and gas-limit / DoS hardening, aimed at scaling rollup data availability and improving resilience. [9]
In plain English: Ethereum’s scaling narrative is advancing, but markets can still trade ETH “down” in the short run if liquidity conditions deteriorate or if ETF and risk sentiment remain unfavorable.
Institutional Adoption Headlines: JPMorgan’s Tokenized Fund on Ethereum
Even as ETH price struggles, Ethereum continues to pick up signals of institutional experimentation and product building.
On December 15, JPMorgan Asset Management announced the launch of its first tokenized money market fund, My OnChain Net Yield Fund (MONY), “now available on the public Ethereum blockchain,” powered by the firm’s Kinexys Digital Assets. JPMorgan says MONY invests in U.S. Treasuries and Treasury-collateralized repos and is designed to let qualified investors access yield while holding a token on-chain, with subscription/redemption through its Morgan Money platform (including via cash or stablecoins). [10]
Business Insider adds detail that the product was initially aimed at wealthy and institutional investors and references JPMorgan seeding the fund ahead of launch. [11]
For ETH-USD traders, this is more medium-term narrative support than a same-day catalyst—but it matters because tokenization is one of the “institutional use cases” frequently cited as Ethereum’s strongest long-run adoption channel.
Technical Levels to Watch: Support, Resistance, and the “$3,000” Battle
Today’s market is heavily technical, with multiple analysts clustering around similar zones.
Key support zones
- $2,900–$2,850: FXStreet highlights a bounce off $2,850 and frames it as an important near-term level; a break below it raises the odds of deeper downside. [12]
- $2,500: Several technical reads put $2,500 as a high-time-frame support zone. Crypto.news describes ETH as forming an ABCD corrective pattern, with downside risk building toward $2,500 as a key macro support area. [13]
- $2,400–$2,600: FXStreet explicitly flags a potential fall into a $2,400–$2,600 support range if $2,850 fails. [14]
Key resistance zones
- $3,000 (psychological): DailyForex describes ETH stabilizing near $3,000 and suggests the market is looking for a floor around that area. [15]
- $3,100: FXStreet says ETH could retest $3,100 after bouncing from $2,850, though it stresses bearish momentum remains dominant. [16]
- $3,261 (50-day EMA): DailyForex highlights the 50-day EMA near $3,261 as a key breakout threshold; reclaiming it could open the path toward $3,500. [17]
Ethereum Forecast for Dec. 17 and Beyond: Three Scenarios Traders Are Pricing In
Because crypto trades 24/7 and sentiment can flip fast, most “forecasts” today are better expressed as scenario ranges rather than single-number predictions.
Scenario A: Relief bounce (bullish short-term)
This scenario requires ETH to reclaim $2,900–$3,000 and then push toward $3,100. FXStreet outlines this as plausible after the $2,850 bounce, especially if oversold signals trigger a short-term reversal. [18]
What would support it
- ETF outflows slow or flip positive
- Risk sentiment stabilizes (equities stop sliding)
- On-chain activity stops deteriorating
Scenario B: Range trade / chop (base case)
If demand remains soft but sellers also fail to force a clean breakdown, ETH may oscillate between the high-$2,800s and low-$3,000s—classic year-end “range” behavior.
FXStreet explicitly notes that sustained declines in addresses/transactions can lead to sideways or drifting price action until activity improves. [19]
DailyForex similarly frames ETH as “hanging around” trying to find a floor, with conviction dependent on broader crypto sentiment. [20]
Scenario C: Breakdown continuation (bearish)
If ETH loses $2,850 decisively, the next zone many analysts focus on is $2,600–$2,400, and then $2,500 as a major longer-term support region. [21]
What would accelerate downside
- Continued ETF outflows
- Further weakening in active addresses/transactions
- Another wave of long liquidations
“Forecast Roundup” From Dec. 17, 2025: What Analysts and Prediction Models Are Saying
A wide range of outlets published ETH-specific calls today. Here’s what stands out (and how it fits together):
- FXStreet (Dec. 17): Bearish momentum still dominates; highlights $2,850 as the critical line, with $3,100 as a retest level and a risk of sliding toward $2,400–$2,600 if support breaks. [22]
- DailyForex (Dec. 17): ETH stabilizing near $3,000; breakout above the 50-day EMA (~$3,261) could target $3,500; weakness could drag ETH toward $2,500. [23]
- Economies.com (Dec. 17): Emphasizes negative pressure while ETH trades below a shorter moving average (EMA50), limiting near-term recovery odds. [24]
- LiteFinance (Dec. 17): Publishes an Elliott Wave-based short-term framework for ETHUSD (one of several wave-count approaches traders use). [25]
- Crypto.news (Dec. 17): Frames ETH in an ABCD corrective structure with $2,500 in focus as major support. [26]
- Changelly (updated Dec. 17): Offers a December 2025 range-style projection (with figures in the low-to-mid $3,000s), reflecting a more optimistic “year-end band” view compared with today’s weaker spot price. [27]
These forecasts differ in method (technical levels, on-chain signals, algorithmic bands), but there’s a consistent overlap: $2,850–$2,900 is the immediate battlefield; $3,100–$3,261 is the recovery zone; $2,500 is the “line in the sand” many bears and dip-buyers both watch.
Longer-Term Outlook: Big Bull Targets Are Circulating, but Assumptions Matter
Zooming out, some long-range projections published today are extremely bullish—and extremely assumption-heavy.
The Motley Fool highlights Fundstrat’s Tom Lee discussing a possible $62,000 ETH by mid-2026, a forecast that depends on major conditions (including a thesis that Bitcoin would surge dramatically and that ETH could trade at a multiple relative to BTC). The piece also notes the author’s skepticism and flags the forecast’s reliance on optimistic inputs. [28]
In contrast, Investing.com’s Dec. 17 analysis focuses more on “fundamental plumbing,” noting metrics such as staking yield estimates and the degree of ETH supply that is staked or locked, alongside the growing share of transactions happening on Layer-2 networks—structural positives, but not guarantees of near-term price upside. [29]
For readers, the practical takeaway is simple: near-term ETH-USD is still trading primarily on liquidity, flows, and risk sentiment, while long-term upside cases lean on adoption narratives like tokenization, scaling improvements (e.g., Fusaka/BPO), and institutional product growth.
Bottom Line: ETH-USD Outlook Hinges on $2,850 Support and Whether Selling Pressure Eases
Ethereum price today is telling a clear story: the market is still treating ETH like a risk asset, and ETF outflows plus weakening on-chain activity are making rebounds harder to sustain. [30]
If ETH holds $2,850–$2,900, a relief rally toward $3,000–$3,100 remains on the table. If that floor breaks, analysts increasingly point to $2,600–$2,400 next—while $2,500 remains the bigger “macro” support zone many are watching. [31]
References
1. www.barrons.com, 2. www.reuters.com, 3. www.fxstreet.com, 4. www.fxstreet.com, 5. www.fxstreet.com, 6. www.fxstreet.com, 7. blog.ethereum.org, 8. blog.ethereum.org, 9. ethereum.org, 10. am.jpmorgan.com, 11. www.businessinsider.com, 12. www.fxstreet.com, 13. crypto.news, 14. www.fxstreet.com, 15. www.dailyforex.com, 16. www.fxstreet.com, 17. www.dailyforex.com, 18. www.fxstreet.com, 19. www.fxstreet.com, 20. www.dailyforex.com, 21. www.fxstreet.com, 22. www.fxstreet.com, 23. www.dailyforex.com, 24. www.economies.com, 25. www.litefinance.org, 26. crypto.news, 27. changelly.com, 28. www.fool.com, 29. www.investing.com, 30. www.reuters.com, 31. www.fxstreet.com
