$ETH is currently in a high-stakes battle to defend the $2,800 psychological floor, trading near $2,840 after a sharp rejection at the $3,000 level triggered over $160 million in long liquidations.

Technical indicators show a dominant "Strong Sell" sentiment as the price remains stuck under a "death cross" and sits nearly 43% below its yearly high, with analysts warning that a failure to hold current support could open the door for a slide toward $2,500 or even lower.

While long-term institutional interest remains a silver lining, the immediate outlook is defined by extreme fear and a bearish trend, leaving ETH at a critical crossroads where it must decisively reclaim $2,950 to avoid a deeper year-end capitulation.

ETHUSDT

Perp

2,936.41

+3.08%