Ethereum Faces Resistance Near $3,200 Amid Market Fatigue

On November 30, 2025, Santiment’s analyst Maksim highlighted a market sentiment shift, noting Ethereum’s struggle at a $3,200-$3,250 resistance with concerns over liquidation risks.

The fading ‘buy the dip’ narrative and market fatigue suggest potential volatility, with the possibility of retesting recent lows impacting investor strategies amid rising liquidation concerns.

Ethereum Market Weakens as Resistance Persists

Ethereum faces a pivotal moment as Santiment’s Maksim reports a resistance zone between $3,200 and $3,250. Ethereum’s market is currently witnessing an intense battle between buyers and sellers. The issue was discussed during the Black Friday livestream by Maksim, a reputable Santiment analyst. The narrative among investors is shifting toward concern over potential liquidations involving major companies such as MicroStrategy. Social metrics indicate fears due to a liquidation narrative.

The market narrative is evolving. The once popular “buy the dip” strategy is losing favor as investors display caution. There is a heightened fear in the market, highlighting concern over a potential downturn and reflecting a mood of hesitation among investors. Bitcoin whales slowing purchases and retail accumulation highlight this unease.

“The market is showing signs of exhaustion after a small recovery. The clear buying signals from last week have disappeared… Ethereum is at a critical resistance zone between $3,200 and $3,250. There is a good chance the market will test this level and then attempt to retest recent lows.” — Maksim, Leading Analyst, Santiment

Historical Trends Indicate Potential Price Retracement

Did you know? Historical data shows that when liquidation fear narratives rise, markets often experience a 50% retrace to previous lows. This trend often follows a small rally before the loss of buying signals.

Ethereum, trading at $2992.50, has a market cap of $361.18 billion, experiencing fluctuation with a recent 1.45% drop over the last 24 hours. CoinMarketCap data shows a current dominance of 11.72% as of November 30, 2025. The trading volume decreased by 34.75% in 24 hours, indicating cautious market activity.

According to analysis from the Coincu research team, the existing trends suggest that Ethereum might face a major downturn if resistance persists. Historical patterns reveal that such scenarios could lead to significant price retracements. Technical analysis indicates lower borrowing and lending activity, reinforcing current market fatigue concerns.