$ETH ETH is trading around $2,940–$2,950 lately — showing some upside from recent lows, but still under pressure compared with earlier highs.
The broader crypto market rebound — led by Bitcoin (BTC) — has given ETH a boost, with renewed optimism among some investors.
📉 Recent Price Action & Technical Signals
ETH recently broke below a key support level around $3,590 — the drop was accompanied by a surge in selling volume, which pushed the price down to around $3,532 before stabilizing.
Technical indicators now suggest a weaker short-term structure. Some analysts point to a new lower trading range between roughly $3,565 and $3,589 as the “new normal” unless bullish momentum returns.
On the upside, overcoming resistance near $2,970–$3,000 could prompt a move toward $3,050+, but challenges remain if macroeconomic headwinds or weak ETF demand persist.
⚠️ Risks & Headwinds to Watch
Institutional flows into crypto remain uncertain. Weak demand for ETFs or further macro pressure could dampen sentiment and keep ETH under pressure.
On-chain and derivatives data suggest recent long-position liquidations are significant — a caution sign for leveraged investors in the short term.
Market structure is fragile: if ETH fails to reclaim support and resistance zones convincingly, further downside toward lower support levels (e.g. $2,400–$2,500 or even $2,200) cannot be ruled out.
🎯 What Could Come Next — Scenarios
Bullish bounce scenario: If ETH breaks above $3,000–$3,050 with strong volume, combined with renewed institutional inflows or favorable news, we might see a recovery toward $3,500–$3,800 — a zone many see as neutral to bullish.
Bearish/neutral scenario: If support fails and selling pressure persists, ETH could drift toward lower support levels around $2,400–$2,500, before stabilizing or attempting another rebound.#ETHCorporateReserves #WriteToEarnUpgrade #ETH🔥🔥🔥🔥🔥🔥 #ETH
