Ethereum News Today: Institutional Hopes vs. Technical Woes: Crypto's Crucial Crossroads

The cryptocurrency market entered a critical phase on November 28, 2025, as Ethereum (ETH) and XRP faced pivotal technical junctures while Solana (SOL) and its memecoin BONK navigated regulatory and market dynamics. Ethereum, trading near $3,000, tested key support levels that analysts view as crucial for stabilizing the broader crypto market. According to a November 21 analysis, ETH's immediate support is clustered between $2,500 and $2,700, with a critical pivot at $3,000–$3,200 required to reverse the downward trend. The 4H chart showed buying pressure at the 61.8% Fibonacci level and channel lows, but a weekly close above $3,000 remains essential for a sustained rebound. Meanwhile, XRP, capped at $2.30, exhibited mixed signals, with the RSI stabilizing at 46 and a MACD buy signal suggesting potential for a test of the 50-day EMA at $2.36. However, sideways trading and oversold conditions indicated prolonged volatility.

Bitcoin's influence loomed large, with JPMorgan declaring crypto, a "tradable macro asset class," a development analysts argue could attract institutional capital. Despite this, BTC's technical outlook remained bearish, with the 50-day EMA at $100,937 acting as a resistance barrier. A decline below $90,000 could reignite bearish momentum, though the green histogram on the daily chart hinted at tentative bullish momentum. For Ethereum, the RSI rising to 41 from oversold levels and a MACD buy signal offered cautious optimism, though two Death Cross patterns on the daily chart underscored the bearish bias.

Solana's ecosystem saw a regulatory milestone as the Bonk (BONK) memecoin partnered with Bitcoin Capital to launch its first ETP on the SIX Swiss Exchange, offering investors a non-crypto-native avenue to trade the token. The ETP, physically backed by BONK tokens, aims to bridge the gap between meme coins and traditional markets, mirroring recent U.S. altcoin ETF trends. However, SOL itself faced headwinds, with a bear flag pattern on the 6H chart suggesting a potential drop to $99 if the $140 support breaks. Analysts noted that liquidity constraints and network disruptions could exacerbate volatility, complicating the path to $150.

The broader market environment highlighted a tug-of-war between institutional adoption and technical fragility. Reliance Global's shift to Zcash for its digital treasury underscored privacy-focused strategies, while Grayscale's Dogecoin ETF launch marked another step toward mainstream acceptance. Yet, the sector's macro risks persisted, with James Check warning of potential Bitcoin leverage liquidations pushing BTC below $80,000. For altcoins, the path forward depends on overcoming immediate resistance and regaining institutional trust. Ethereum's ability to reclaim the $3,000 pivot and XRP's breakout above $2.30 will be key indicators of whether the bear market has reached its nadir.