Ethereum is experiencing a short-term bearish trend as technical indicators signal potential downside. On December 23, 2025, the 4-hour Money Flow Index (MFI) shows a top divergence accompanied by weak trading volume. Additionally, the Moving Average Convergence Divergence (MACD) has formed a death cross, suggesting further price declines. ETH may target a drop towards $2,880 unless it can recover above $3,050, confirmed by three consecutive 4-hour closes above this level, which would negate the bearish outlook.