Ethereum's price is currently forming a symmetrical triangle, indicating a potential breakout as it is squeezed between rising support and a falling trendline from October highs. The price is repeatedly capped by the EMA cluster around $2,950 to $3,000. Recent ETF outflows, including $84.6 million on December 24, are hindering upward momentum. A breakout above $3,050 could signal a bullish trend, while a drop below $2,850 may lead to further declines.