Usman Salis
⬤ Ethereum hit the $2,950 to $3,000 resistance zone and got rejected—again. This level keeps pushing ETH back down, showing there's serious selling pressure every time it tries to climb higher. The chart makes it clear: ETH touched this zone and immediately pulled back, staying trapped in the lower part of that red resistance band.
⬤ Looking at the bigger picture, Ethereum's been sliding down from above $4,000, losing support level after support level along the way. The current rejection lines up perfectly with that $3,000 wall where previous attempts also failed. Below where we are now, there are several green support zones between $2,715 and $2,865—these might catch ETH if it keeps drifting lower. And here's the thing: unless Ethereum actually reclaims $3,000, the odds of seeing a new low stay pretty high.
⬤ That said, there's still a bullish path forward if ETH can punch through $3,000 with real conviction. A strong breakout above that level would flip the script entirely and open up a run toward the next major resistance around $3,400. But this isn't going to happen on weak volume—it'll take serious momentum to break this pattern and shift the trend upward.
⬤ Why does this matter right now? Because Ethereum's sitting at one of its most critical technical levels. Staying below $3,000 keeps the downside risk alive, not just for ETH but for the broader crypto market too. A breakout, though, would signal a real structural shift in the trend. With strong resistance overhead and layered support below, the next few sessions could decide whether this rejection leads to more weakness or becomes the setup for a bigger reversal.
Usman Salis
