Ethereum Price Enters Critical Channel Test: Analysts Mark $3,100 as Lifeline Target as Bhutan Bids Dip

Ethereum's price has shown bullish momentum, reclaiming the $3,000 mark as the cryptocurrency market experiences a rebound. This resurgence is accompanied by a significant increase in demand for Ethereum futures, which have become the dominant driver in the derivatives market compared to the spot market.

On November 27, 2025, the government of Bhutan moved 320 Ethereum (ETH) into staking, valued at approximately $970,000, through the institutional provider Figment.io. This transaction created 10 new validators, adhering to the network's requirement of 32 ETH per validator, and marks Bhutan's largest ETH action since May 2025.

A significant 35% correction in Bitcoin's price has occurred, dropping from $124,000 to around $81,000, which has triggered a Hash Ribbon signal indicating potential market stabilization and a cyclical bottom. This situation has drawn attention to the SUBBD token, which integrates Web3 payments and AI technology to enhance creator earnings and fan engagement.

An Ethereum ICO whale has cashed out approximately $60 million after achieving a staggering 9,500x gain, despite a backdrop of market downturns and some early investors selling their holdings. This move comes as the top 1% of Ethereum holders continue to accumulate the cryptocurrency, indicating a divergence in investor sentiment within the market.

The Federal Reserve is expected to end its quantitative tightening (QT) in December, a shift that may influence the liquidity available for risk assets like Bitcoin. This change comes after a prolonged period of QT, which has been linked to Bitcoin's slower-than-expected growth in the current cycle. The Fed's potential move towards quantitative easing could significantly alter market dynamics.

Solana (SOL) has regained a crucial resistance level, nearing the $145 mark, as the cryptocurrency market rebounds from recent lows, with SOL experiencing a notable rally of over 10% since the beginning of the week. This recovery comes despite significant outflows from Solana ETFs, including a $34 million exit from the 21Shares Solana ETF (TSOL).

A significant expiry of Bitcoin and Ethereum options is set to occur, with approximately 147,000 Bitcoin options contracts expiring on November 28, coinciding with a major leverage washout and open interest clustering near max pain levels. Both cryptocurrencies are trading just below key resistance points, indicating a critical moment for market participants.

Ethereum's price has confirmed a bullish reversal pattern as the supply of tokens held on exchanges has dropped to a record low, indicating a potential shift in market sentiment. This development follows a period of price decline, where Ethereum's value fell significantly over the past weeks.