Key Insights:
- Ethereum holds $3K support, but sellers could push price toward the $2,800–$2,900 demand zone.
- Analysts watch $3,052 resistance and $3,041 support as Ethereum consolidates in a tight range.
- Fibonacci levels between $2,800–$2,900 mark a high-interest area for potential buyer accumulation.
Ethereum (ETH) was trading just above the $3,000 level, a zone many traders are watching closely. As of now, ETH is priced at $3,035.56 after falling 2.8% in the last 24 hours. The weekly gain stands at 1.2%, showing mixed signals in the short term.
Technical analyst Ted shared that ETH is holding this level, but warned that a drop below $3,000 could push price toward $2,800.
He wrote,
Source: Ted/XHowever, his chart shows support zones near $2,870 and $2,770, which are areas where price reacted in the past.
If the price stays above $3,000, ETH could move back toward $3,150 and possibly $3,350. Above that, the $3,700 area is seen as a higher resistance based on previous price moves.
Buyers May Step in Between $2,800 and $2,900
Kamran Asghar shared a separate chart that points to a potential demand zone between $2,800 and $2,900. This zone is based on Fibonacci retracement levels and past price activity.
He stated,
Source: Kamran Asghar/XThis area has previously acted as a launch point for price. If ETH pulls back into this zone, some traders expect buy orders to come in. A reaction here could signal another move upward, though no confirmation has been seen yet.
This demand range lines up with support from late November and early December. Price reacting in this area would not be unusual based on recent market structure.
ETH Range-Bound Below Key Resistance
Crypto Tony gave a short-term view, noting ETH is moving sideways. “A reclaim of $3052 is your long trigger if we get that or a rejection below $3041 is your short trigger,” he said. He described the current structure simply as a range.
The chart shows ETH trading between $3,018 and $3,042. The market has failed to break out in either direction. A close above $3,052 may trigger long positions. On the other hand, a move under $3,041 may open the way toward $2,900 or below.
Current Price Action and Key Levels to Watch
ETH has been reacting to recent selling pressure but remains stable above $3,000. Volume and price action suggest buyers are still active, though momentum is weakening near resistance zones. The $3,000 level now acts as a dividing line.
If ETH stays above it, price may push toward $3,150 and then $3,350. A break below could trigger a slide into the $2,800–$2,900 zone, where many traders expect fresh demand.
How ETH reacts in the next few sessions will likely decide its next move. Traders are watching $3,052 and $3,041 closely as short-term decision points.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/eth-clings-to-3k/
