Can Ethereum Price Prediction Recover From November Tumble: ETH USD Price Analysis For December

Market Overview - Ether has shown resilience, trading near $2,920, with a 4% increase in the past 24 hours as traders seek stability after a challenging November [1][2] - The broader crypto market faced difficulties, with Bitcoin hitting a seven-month low and Ether following suit [2] Liquidity and On-Chain Activity - Liquidity on Ethereum improved, with average L1 gas fees dropping to approximately 0.085 gwei, one of the lowest levels this year, making on-chain activity more affordable [3] - Ethereum's network processed around 1.5 million transactions and had about 464,000 active addresses, indicating steady participation despite recent market pullbacks [4] Futures Market Developments - Ether open interest is reported at approximately $35.84 billion, with futures volume around $88 billion over the past day, showing increased positioning without heavy leverage [4] - Cboe is set to launch a new ether "Continuous Futures" product on December 15, designed to provide a regulated way for US traders to gain leveraged exposure [5][6] Institutional Interest - The new Cboe ether futures product aims to meet the needs of institutional investors seeking efficient, long-term exposure without relying on unregulated platforms [6] - Analyst Michaël van de Poppe notes that the ETH/BTC trading pair appears poised for an upward breakout, maintaining support within a key demand zone [7]