Ethereum (ETH) once again finds itself under pressure after losing the crucial $3,000 level. The breakdown signals weakening momentum as sellers gain the upper hand, pushing ETH toward key support zones that could decide its next major move.
📉 What’s Happening in the Market?
$ETH failed to hold above the $3,000 pivot, closely following Bitcoin’s recent weakness. The drop below $2,980 confirmed a short-term bearish shift, placing Ethereum under important technical levels.
The sell-off also dragged ETH below the 50% Fibonacci retracement of the move from $2,775 to $3,075. Adding to the bearish case, a rising channel with support near $2,980 was broken on the hourly ETH/USD chart (Kraken data).
Currently, Ethereum is trading below:
$2,980 resistance
100-hour Simple Moving Average
This keeps the short-term structure tilted in favor of bears.
🧱 Key Levels to Watch
Resistance Zones:
$2,980 (immediate)
$3,000 (psychological)
$3,050 (bullish breakout trigger)
A clean move above $3,050 could push ETH toward $3,120, and potentially $3,200–$3,220 if momentum builds.
Support Zones:
$2,880 (critical short-term support)
$2,845 (major support)
$2,800 → $2,775
$2,720 (next key downside target)
A failure to defend $2,880 may open the door for deeper losses.
🔎 Why This Matters
Ethereum’s inability to reclaim $3,000 highlights fading bullish strength and cautious market sentiment. While a relief bounce is possible if buyers step in at support, the broader technical picture remains fragile unless ETH quickly recovers lost ground.
