Ethereum recently pushed above the $3,000 mark in a brief bullish move but is now showing signs of weakness. After peaking at $3,081, ETH has pulled back and is currently trading near $2,940, raising concerns that a short-term correction might be on the way.
While the broader crypto market remains optimistic following Bitcoin’s rise to all-time highs, Ethereum is struggling to maintain momentum. The question now is whether ETH will find enough support at $2,900 or if a deeper retracement is about to unfold.
Ethereum Briefly Tops $3,080 Before Reversing
Ethereum, like Bitcoin, saw renewed bullish interest after climbing above key resistance zones at $2,800 and $2,880. The move brought ETH into positive territory, with prices quickly pushing past $2,920 and even testing the $3,080 level.
However, the rally was short-lived. ETH has since fallen below the $2,980 support trend line, a technical structure that had been holding the recent gains. This break was accompanied by a slide under the 100-hour Simple Moving Average, indicating fading bullish momentum.
Key Support Levels in Focus
Ethereum’s current price action suggests the asset is entering a consolidation phase. A small rebound could still occur, especially if the price remains above the $2,900 support. This level is critical — not just psychologically, but also from a technical standpoint.
If ETH manages to stay above $2,900, it could attempt another breakout above $2,980 and $3,000. A successful breach of these resistance points would open the path toward $3,040, followed by a potential retest of the $3,080 high.
A break above that level could reignite bullish sentiment and send ETH toward the next upside targets of $3,200 and $3,220, according to analysts.
Downside Risks: What Happens if $2,900 Fails?
If Ethereum fails to hold above $2,900, it may indicate that the recent rally was more of a temporary relief bounce than the start of a sustained uptrend. The next support zone lies at $2,800, which is a level ETH has tested multiple times in the past few weeks.
Falling below $2,800 could open the door to even deeper losses, with additional support seen at $2,720 and $2,650. These levels would represent a significant retracement from the recent high and might attract buyers looking for better entry points.
Technical Indicators Suggest Weak Momentum
Several technical indicators now suggest that the short-term trend for Ethereum is leaning bearish:
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MACD (Moving Average Convergence Divergence) on the hourly chart has moved into negative territory, signaling weakening buying pressure.
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RSI (Relative Strength Index) is currently below 50, suggesting that sellers are beginning to take control of the market.
These indicators align with the overall picture of a market that is taking a breather after a solid run-up.
What’s Next for Ethereum?
The coming days will be crucial for Ethereum. Traders will be watching closely to see whether ETH can reclaim the $3,000 level or if selling pressure drives it further down. A strong bounce from $2,900 would indicate renewed interest from buyers and could keep the broader uptrend intact.
On the other hand, a clear break below $2,900 would likely trigger increased selling activity, especially among short-term traders and algorithmic bots that monitor key support zones.
If a correction deepens, some analysts suggest looking for accumulation opportunities around $2,650–$2,720, which could provide a more stable base for the next rally, especially with continued optimism in the altcoin market.
Ethereum Price Outlook: Summary
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Short-term resistance: $2,980 and $3,000
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Immediate support: $2,940 and $2,900
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Key resistance to watch: $3,040 and $3,080
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Key support below $2,900: $2,800 and $2,650
Despite this temporary setback, Ethereum remains a core asset in the crypto ecosystem with strong fundamentals and increasing network utility. The current dip may simply be a natural pause in a larger bullish cycle.
As always, investors are advised to monitor price levels, market sentiment, and upcoming macroeconomic news that could influence crypto markets, including the ongoing regulatory debates in the U.S. and global developments around decentralized finance (DeFi).
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