Summary Bitcoin is still evolving within its descending channel but is bouncing from its lows, inducing some dip-buying recovery activity. Ethereum still has trouble closing above the $3,000 mark but is forming some better-looking price action. The story repeats for Solana, but the harshly rejected crypto is showing signs of life, breaking its past week's descending price action and testing the $140 level. By Elior Manier Cryptocurrencies are finally bouncing from their relative lows, with Bitcoin ( BTC-USD ) reclaiming the $90,000 level after bottoming near $80,500 on Friday, November 21. Traders are scared, and for good reason: elevated valuations and an ecstatic mood in early autumn had led to extreme positioning, which consequently triggered a cascade of liquidations and stops. The first major crack appeared shortly after Bitcoin reached its new record at $126,400 in mid-October, where a dark weekly closure led to a gigantic flash crash. After that, the recovery was swift but proved temporary, materializing into a consistent, progressive selloff that dragged on all the way to the final week of November. Low volumes are now the norm in this scarred market, but with selling flows largely reducing, some bottoms may have finally formed. The question remains: Are the recent lows dips to buy or traps to avoid? Current Session in Cryptos – Green throughout but some mid-day profit-taking – December 2, 2025 (12:01). Source: FInviz As mentioned in one of our previous crypto sell-off analyses, the answer depends entirely on your investment horizon and risk appetite. Market sentiment is still weak, but the daily session is a strong one. Ethereum ( ETH-USD ) is now hanging around $3,000 again, and Bitcoin is holding $90,000, recovering even after a terrible monthly open yesterday caused by Strategy's ( MSTR ) investor panic - likely fueled by fears over its collapsing premium and leverage sustainability. Let's access a few intraday charts and levels for Bitcoin, Ethereum, and Solana ( SOL-USD ) so you can decide whether this is an opportunity or not. The total market cap slowly recovers Crypto Total Market Cap. December 2, 2025 – Source: TradingView Bitcoin 8H Chart Bitcoin (BTC) 8H Chart, December 2, 2025 – Source: TradingView Bitcoin is still evolving within its descending channel but is bouncing from its lows, inducing some dip-buying recovery activity. Closing above the higher bound of the Pivot Zone ($92,000) would point to a test of the channel's higher bound around $98,000. For a higher timeframe bull-momentum restart, a weekly close above $100,000 will be required. Levels of interest for BTC trading: Support Levels: $90,000 to 93,000: major support turned Pivot Current Weekly Lows: $89,340 $85,000 mid-term support (+/- $1,500) $75,000 key long-term support Resistance Levels: $90,000 to 93,000: major support turned Pivot $98,000 to $100,000: Main Support, now Pivot (MA 50 at $100,000) $102,000 Bear Channel Highs Resistance at previous ATH: $106,000 to $108,000 Current ATH Resistance: $124,000 to $126,000 Ethereum 8H Chart Ethereum (ETH) 8H Chart, December 2, 2025 – Source: TradingView Ethereum still has trouble closing above the $3,000 mark but is forming some better-looking price action. The recent buying is occurring at the mid-line of the October descending channel, prompting more odds of a bullish breakout. Similarly to Bitcoin, however, a close above its $3,000 to $3,200 pivot will be required to allow for a return to a bullish mid-term bias in ETH. Levels of interest for ETH trading: Support Levels: $2,500 to $2,700: June Key Support (recent rebound) $2,620 Session and Weekly Lows $2,100 June War support $1,385 to $1,750: 2025 Support 2025 Lows $1,384 Resistance Levels: $3,000 to $3,200: Major momentum pivot (test of the $3,000) $3,500 (+/- $50): Resistance and Descending Channel highs $3,800 September lows $4,000 to Dec 2024 top higher timeframe resistance zone $4,950 Current all-time highs Solana 8H Chart Solana (SOL) 8H Chart, December 2, 2025 – Source: TradingView The story repeats for Solana, but the harshly rejected crypto is showing signs of life, breaking its past week's descending price action and testing the $140 level. Track how it performs within its descending channel: The $160 to $170 resistance level will be the hurdle to breach to relaunch bullish prospects for the third-largest crypto. Levels to keep on your SOL Charts: Support Levels: Main Support: $125 to $130 (recent bounce) $110 to $115: Support Weekly lows: $123 Support 3: $100 to $105 Resistance Levels: $140 to $150: Major Pivot (testing) Channel highs and October Pivot resistance: $165 to $170 $180 to $190: Resistance Psychological level: $200 to $205 $253 cycle highs Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
