The Ethereum price looks calm, but the entire structure is slowly becoming bullish. In the last 24 hours, ETH has practically not changed in price, and over the past seven days, it has gained a moderate 2.6%. The price has been around 3100 USD for several sessions, suggesting strength rather than exhaustion.
This sideways movement is not random. Ethereum is consolidating near key levels where breakouts often occur. The next move depends on whether buyers, who are gradually returning, will turn this consolidation into further increases.
The bullish flag structure remains intact, and a breakout zone appears.
Ethereum looks ready to break out after consolidating within a bullish flag. This formation occurs when the price pauses after a strong upward move, then moves within a narrow range before another wave of increases. This pattern indicates consolidation, not weakness.
The structure remains intact as long as ETH stays above $3090. This means that if there is no daily candle closing below this level, the expected breakout may hold.
This level served as strong support, absorbing selling pressure during the recent declines. The price has repeatedly bounced from this area, indicating that buyers are still defending it.
A clean close above $3130 would be the first confirmation that the flag is breaking upwards. Such a move indicates that consolidation is ending and buyers are regaining control. Without this close, Ethereum remains in compression, but the bullish structure still holds.
Selling pressure decreases as the Ethereum price reaches important levels.
On-chain data supports the current price structure. The change in net positions of holders, which tracks whether long-term investors are buying or selling ETH, indicates that selling pressure has weakened compared to previous sessions.
On December 12, Ethereum holders distributed approximately 958,771 ETH. By December 13, net sales had dropped to around 877,958 ETH, indicating a decrease in selling pressure of nearly 8.4% over 24 hours.
This change matters. Ethereum continues to experience distribution, but the pace of selling is slowing as the price compresses at resistance. This situation usually occurs at the end of consolidation, not during a breakdown.
When selling pressure weakens near a key level, and the price does not decline, the chance increases that buyers will step in after confirming the breakout. Ethereum is not recording panic exits. Holders seem to be holding off on selling.
If the Ethereum price closes the day above $3130, the next resistance is around $3390. Breaking through this area opens the way to the $4000–$4020 zone. This aligns with the theoretical move from the bullish flag.
However, the bullish structure will start to weaken if the Ethereum price falls below $3090 or even $2910. A close below this second level would completely break this setup.
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