$ETH price has been under pressure recently, trading near key support around ~$2,900–$3,000 as sellers remain in control and ETF outflows weigh on sentiment. Short‑term technical structure remains bearish, with downward pressure likely to persist unless ETH breaks above immediate resistance levels.
📉 Short‑Term Price Action
ETH is consolidating near support, with attempts to reclaim higher levels failing around ~$3,300–$3,400.
Technical indicators show resistance dominating near the descending trendline, and ETF outflows have limited upside momentum.
This suggests near‑term trading may remain choppy or weak unless market breadth improves.
📊 Medium‑Term Outlook
Analyst forecasts vary widely:
Some models forecast potential recovery toward $3,500–$4,000 if key resistance breaks.
Others keep more cautious targets near current levels, with mixed signals from technical indicators.
Overall, the medium‑term outlook is cautiously neutral to mildly bullish, hinging on broader crypto market sentiment and breaks above critical levels.
🧭 Fundamental and Structural Drivers
Ongoing network upgrades (like Fusaka and enhancements to throughput and fee efficiency) support Ethereum’s long‑term utility and DeFi/NFT ecosystem growth.
Institutional interest and large whale positions have been noted, offering support for longer horizons.
However, macro headwinds — such as ETF outflows and broader risk‑off positioning — challenge short‑term rallies.
