Ethereum Under Pressure as $3,000 Rejection Signals Downside Risk
Ethereum has once again failed to break above the $3,000 resistance, keeping price action under pressure around the $2,950 region. Repeated rejection at this level highlights strong supply and weak follow-through from buyers.
For $ETH to regain bullish momentum, a clean reclaim and hold above the $3,070 zone is critical. Without this, downside risk increases toward the $2,600–$2,700 support area, which would represent roughly a 20% correction from recent highs.
Current price structure shows tight consolidation, suggesting volatility is building. This compression phase often precedes a sharp move, but direction will depend on which side gains control.
On the upside, the $3,400–$3,600 region remains a heavy resistance cluster, further reinforced by the 200-day moving average. A decisive break above this zone is needed to shift the broader trend back in favor of bulls.
