🚨 Ethereum Faces Crucial Test After $3,000 Rejection! 📉

Ethereum is struggling after yet another rejection at the significant $3,000 resistance level. Currently trading around $2,950, persistent selling pressure is evident.

Analysts highlight that ETH must reclaim and firmly hold above $3,070 to avert a deeper pullback. Failure to do so could see prices retest the $2,600–$2,700 support zone, marking a potential 20% downside from current levels. 📉

Price action suggests ETH is consolidating within a tight range. Both bulls and bears are awaiting a decisive breakout, as such compression often precedes a strong directional move. 📊

On the upside, the $3,400–$3,600 range remains a major resistance barrier. The 200-day moving average (200 MA) also acts as a critical hurdle, limiting upward momentum unless it's decisively broken. 📈

(ETHUSDT)