Usman Salis
⬤ Ethereum just can't seem to break past the $3,000 mark. This level has turned into a solid ceiling, and ETH has been rejected here multiple times now. Each time buyers try to push higher, sellers step in and shut it down. The price is stuck below this threshold, and the bulls haven't shown enough strength to flip it yet.
⬤ Looking at the daily chart, $3,000 is clearly the line in the sand right now. Every bounce gets sold into, and the momentum just isn't there for a real breakout. Buyers are hesitant, and sellers are controlling the action around this zone. Until ETH can reclaim this level and hold it, the upside looks pretty limited.
⬤ If Ethereum can't get back above $3,000 soon, the next stop could be $2,800. That's the level traders are watching now. A breakdown from here would likely trigger more selling pressure, pushing the price into lower support zones. The chart shows that demand is weakening, and without fresh buying interest, a deeper pullback is becoming more likely.
⬤ The bottom line? $3,000 is the make-or-break level for ETH right now. Continued rejection keeps the downside risk on the table and makes traders nervous. If Ethereum can flip this resistance, things could improve. But if it doesn't, expect more volatility and a potential test of $2,800.
Usman Salis
