Ethereum Eyes $3,000 Support as Selling Pressure Mounts
Ethereum price has extended its decline toward the $3,000–$3,050 demand zone amid rising selling pressure. Technical analysis shows a broad descending structure with the 100-day and 200-day moving averages above current levels, signalling weakening medium-term momentum. A daily close below $2,950 would expose the $2,600–$2,700 macro demand area, while a stabilized higher‐low base near $3,000 could trigger a relief rally toward $3,400–$3,550.
On the 4-hour chart, ETH trades within a descending channel, testing the mid-channel liquidity cluster and creating an imbalance window at $3,250–$3,330 for a potential bounce. A failure to reclaim the channel midline around $3,350 would keep the bearish bias intact.
On-chain analysis of futures order sizes reveals retail capitulation near $3,000 and thinning large orders, suggesting forced liquidations rather than institutional exits. A defense of this zone, coupled with a rise in whale activity, could mark an early accumulation phase ahead of a broader corrective upswing.
Neutral
Ethereum’s test of a critical support zone around $3,000 creates uncertainty. In the short term, failure to reclaim key moving averages and descending channel structures suggest continued bearish pressure. However, on-chain signals of retail capitulation and potential accumulation by larger participants indicate the possibility of a stabilization and corrective rebound if the demand zone holds. Similar patterns in mid-2025 saw lows forming around major liquidity clusters before relief rallies. Therefore, the immediate outlook remains balanced: further downside risks persist, but a defended support could trigger a recovery, leading to a neutral overall impact.