ETH BREAKS BELOW $3,100 โ CRITICAL SUPPORT UNDER FIRE ๐ฅ
Ethereum has slipped 3% to ~$3,086, losing the crucial $3,100 support โ a level that previously acted as a strong demand zone. Whatโs worrying? This drop happened despite aggressive whale accumulation, suggesting market-wide risk-off sentiment is still in play.
๐ What the data shows:
โข Over $120M in ETH liquidations in the last 24 hours
โข RSI now in oversold territory, hinting at exhaustion โ but not confirmation
โข Momentum remains bearish as sellers dominate short-term price action
โ ๏ธ Downside risk:
If ETH fails to reclaim $3,100, bears may push price toward the $2,400 macro support, a level that could define the next major cycle move.
๐ Bull scenario:
Bulls must regain strength and secure a daily close above $3,486 to signal a real trend reversal and shift momentum back in their favor.
This is a make-or-break zone for Ethereum.
Is this a bear trapโฆ or the start of a deeper correction? ๐
