Ethereum News Today: Whales Buy $1.37B Dip as Ethereum Tests $3,300 Support

Ethereum's price continued to falter in late November 2025, struggling to maintain gains above $3,500 amid mixed technical signals and shifting market sentiment. The cryptocurrency fell 3.46% to $3,417.77 on Nov. 11, marking its largest daily decline since Nov. 4, when it dropped 10.73%, according to a TradingView report. Over the past month, Ethereum has lost 11.44%, despite a year-to-date gain of 2.18%. The asset now trades 31.03% below its all-time intraday high of $4,955.23 reached in August, per the TradingView report.

Technical analysts have highlighted deteriorating momentum, with Ethereum testing critical support levels. The $3,300 threshold has emerged as a key area of focus, with bears potentially targeting $3,150–$3,200 if the price breaks below this level, according to a Crypto News analysis. A breakdown below $3,360, identified as a major support zone, could push the price toward $3,290 and then $3,220, as noted in a TradingView article. Intraday volatility has also intensified, with a 6% swing observed in the past 24 hours, as reported by a Yahoo Finance report.

On-chain data reveals a divergence in market behavior. While Ethereum's price declined 3.3% to $3,331 on Nov. 6, large holders accumulated 394,682 ETH-valued at $1.37 billion-during the pullback, as reported by a Yahoo Finance report. This accumulation, occurring between $3,247 and $3,515, suggests institutional buyers may view the decline as a strategic entry point. However, the price failed to reclaim $3,350 resistance in the final hours of the analysis window, compounding bearish concerns, as noted in the Yahoo Finance report.

Market structure remains fragile, with Ethereum trading below its 100-hourly simple moving average and key EMAs. The daily RSI at 42.98 indicates mild bearish momentum, while the MACD shows marginal bearish bias, as noted in a Cryptonomist analysis. Volume analysis confirmed institutional selling participation, with breakdown volume exceeding the 24-hour average by 138%, according to a Yahoo Finance report. Meanwhile, the CoinDesk Index 5 (CD5) edged higher to $1,843 during volatile trading, though sellers reemerged near resistance levels, per the Yahoo Finance report.

Despite the near-term weakness, some analysts remain cautiously optimistic. Ethereum's network throughput recently hit a record 24,192 transactions per second, and on-chain whale activity suggests potential for a near-term reversal, as reported by a Yahoo Finance report. Traders are now monitoring whether the asset can hold the $3,247 support zone. A move above $3,480 would begin to neutralize the bearish breakdown pattern, potentially setting the stage for a test of $3,650 resistance, as noted in the TradingView article.