What's on the Horizon for ETH? Significant Sell Wall Detected on Binance Approaching $3,000

The Ethereum price has been stagnant below the $3,000 mark, with traders facing challenges in breaking through this critical resistance level. Recent analysis highlights a substantial sell wall on Binance, which may inhibit upward momentum. As trading activity dwindles during the holiday season, Ethereum could struggle to reclaim the $3,000 threshold.

Key Takeaways

Ethereum's current trading price is $2,996, reflecting a slight increase of 0.45% in the last 24 hours.
A significant sell wall on the Binance order book shows nearly $77.6 million in sell orders above the current ETH price.
Trading volumes have decreased, with Ethereum and altcoins experiencing less activity than last year during the same period.
If Ethereum can overcome the $2,982 resistance, it might reach $3,000 before encountering further resistance around $3,500.
Upcoming upgrades to the Ethereum network may set the stage for potential future growth.

Main Content

Currently, Ethereum has been trading in a tight range just below $3,000 since its attempts to break through this critical price level in December ended with a reversal. As of now, ETH is priced at $2,996, marking a 0.45% increase in the last day and a 2.23% increase over the week.

As market participants make final efforts to push above the $3,000 threshold, analysts have detected a prominent sell wall that could impede their efforts. Maartunn, a community analyst using the on-chain analytics platform CryptoQuant, identified a heavy resistance level on Ethereum futures. Specifically, there is approximately $77.6 million in sell orders listed just above the current price at $2,982, according to the Binance order book.

Maartunn commented on X, "Heavy sell wall on ETH Futures. Binance order book shows nearly $77.6 million in asks stacked just above price at $2,982," while sharing an hour-long chart of ETH/USDT on Binance.

On the other hand, the on-chain analytics company Santiment indicates that trading volume has experienced a typical decline as the end of 2025 draws near. The markets are currently displaying a flat and unpredictable nature, primarily due to the holidays, which tend to keep traders away from their screens.

Santiment highlighted that Bitcoin and altcoins, especially Ethereum, have recorded their lowest trading volumes over the last two weeks compared to the same stretch last year. This decline in trading activity, coupled with the looming sell wall near $3,000, suggests that bulls may face a tough challenge in breaking through this pivotal level. If Ethereum manages to breach the $2,982 resistance, it could potentially rise to $3,000 before meeting additional resistance in the vicinity of $3,500.

Looking ahead, Bitwise anticipates that Ethereum could reach an all-time high in 2026 if the CLARITY Act is passed, as this legislation would likely favor Ethereum significantly. In addition, developers within the Ethereum network have tentatively named the upcoming second major upgrade "Hegota," planned for 2026. This upgrade is expected to come after "Glamsterdam," the next significant enhancement, which is slated for launch in the first half of 2026.