Ethereum on the way to recovery: Will the price overcome $3,100?

Ethereum on the way to recovery: Will the price overcome $3,100?

On November 28, 2025, Ethereum is showing signs of a possible recovery as the price is at $3,050. This development could give Ethereum its first weekly increase in five weeks, largely due to a surge in buying interest. Loud FXStreet Open interest in Ethereum has remained stable, with short-term liquidations slightly outpacing long-term ones.

Ethereum is currently testing resistance at $3,100 after previously reclaiming the key $2,850 level. In recent days, the weekly average of net flow of ETH on exchanges has fallen to its lowest level in over a month. On Friday, outflows exceeded inflows by nearly 180,000 ETH, showing that investors are increasingly moving their assets from exchanges to private wallets to hold them for the long term.

Institutional investors and ETF inflows

Institutional investors play a crucial role in the current buying activity. ETH ETFs recorded four consecutive days of net inflows, totaling $292 million. These ETFs are on track for their first weekly inflows of November after ending a string of eight days of outflows. At the same time, on-chain activity increased as the number of active Ethereum addresses rose above 601,000, marking the highest level in 2025.

Ethereum futures open interest remained unchanged at 12.1 million ETH while liquidations gradually declined. It can be observed that liquidated short positions exceeded long positions, indicating possible exhaustion among bearish traders.

Market analysis and technical perspectives

The current risk aversion has taken a break after ETH fell to the realized price of accumulation addresses around $2,750-$2,850. This price range also represents the average cost base price for large investors holding between 10,000 and 100,000 ETH. Ethereum is now facing resistance at $3,100, which is near the 100-week EMA. A rise above this value could lead to a test of the $3,470 level, assuming the 50-week EMA is overcome.

The Relative Strength Index (RSI) has halted its downward trend for now, while the Stochastic Oscillator is approaching a crossover point out of oversold territory. These technical indicators suggest that Ethereum is in a crucial phase that could determine its short and medium-term price developments.