Ethereum Slips Below $3,000, Weakness Builds

Ethereum has fallen under the $3,000 mark, signaling growing downside pressure as sellers gain control. The asset is now trading below several key technical levels, suggesting that momentum has shifted in favor of bears unless strong support holds.

What’s happening

ETH failed to sustain the $3,000 level and began a fresh decline, tracking broader weakness seen in Bitcoin.

Price moved below $2,980, a zone often viewed by traders as a short-term trend divider.

The drop also took ETH under the 50% Fibonacci retracement of the recent move from $2,775 to $3,075.

A rising channel on the hourly ETH/USD chart, with support near $2,980, has broken, pointing to a change in market structure.

Ethereum is currently trading below both $2,980 and the 100-hour simple moving average, with resistance clustered around $2,980–$3,000.

Key levels to watch

Support: $2,880 is the immediate level to defend. Below that, attention shifts to $2,845, followed by $2,800, $2,775, and potentially $2,720.

Resistance: Any recovery attempt faces hurdles near $2,980 and $3,000. A stronger rebound would require a move above $3,050, which could open the door toward $3,120–$3,220.

Why it matters Ethereum’s break below its rising channel and major intraday indicators reflects short-term technical deterioration. Holding above $2,880 could stabilize price action and allow for a rebound, while continued rejection near $3,000 may keep downside risks in focus.