#以太坊行情解读 December 19, 2025, the Bank of Japan announced a policy decision to raise the benchmark interest rate by 25 basis points to 0.75%, marking the first time since September 1995 that Japan's policy rate has reached such a level. After the announcement, financial markets remained quite calm—because the market had already priced in this figure.

Interestingly, the market then followed the common "sell the expectations, buy the facts" pattern. Previously, everyone was worried that rate hikes would trigger large-scale unwind of arbitrage trades, potentially crashing risk assets. However, the central bank's rate hike was moderate, and the subsequent guidance was cautious, which eased market nerves—some safe-haven funds began flowing back into stocks and cryptocurrencies, leading to today's rebound.

But from Ethereum's perspective, the situation isn't so optimistic. Yesterday's sharp rise followed by a pullback already indicated the problem: the $3,000 barrier is too tough, and after a brief rebound, it was pushed back down. Today, although there is a rebound, the strength and volume are weak, showing no signs of a reversal. There are no signs of a bullish breakout.

**What does the technical analysis say?**

Key levels are distributed as follows:

Above, $2,870 is a recent high. Only a breakout above this level could open the way toward the core resistance zone of $3,000-$3,100.

Below, $2,700 is a psychological level. If risk aversion sentiment rises again and a volume-driven breakdown occurs here, it could trigger a search for lows in the $2,500-$2,300 range.

**How to operate?**

Currently, the market is still in a bearish bottoming phase, and a rebound does not mean a reversal. The most common mistake is to interpret intraday rebounds as signals and attempt to buy the dip on the left side, only to get trapped. True stabilization requires two conditions: first, a clear bottoming candlestick pattern at key support levels; second, sustained increasing volume. Only when both conditions are met should one consider entering. Until then, the most prudent approach is to observe patiently and wait for the market to give clear signals.