Ethereum Slips Below $3,000 as Analysts Warn of Further Downside

Ethereum has remained below the critical $3,000 resistance for the past 48 hours, raising concerns about additional downside risk if the level is not reclaimed before the week closes.

Currently trading near $2,940, Ethereum faces the possibility of a further 5% decline, adding pressure to an already weak market structure. The asset is now down nearly 16% on the month, highlighting the fragile sentiment across the broader crypto market.

Analyst Columbus pointed out Ethereum’s continued underperformance relative to Bitcoin, noting its inability to break above the Volume Weighted Average Price (VWAP). According to him, the recent bounce from $2,800 to $2,850 appears reactive rather than impulsive — indicating buying interest but lacking strong conviction for a sustained rally.

He further explained that significant liquidity is stacked between $3,050 and $3,250, acting as a ceiling and repeatedly capping upward price movements. Unless Ethereum can reclaim and hold above this zone, any upside is likely to remain short-lived and driven by supply rotations rather than a true trend reversal.

If the $2,850 support fails, Columbus warns that Ethereum could revisit deeper liquidity zones between $2,400 and $2,700, where most market interest is concentrated.

Adding to the bearish outlook, market analyst CryptoBullet shared a more pessimistic long-term projection. His updated Ethereum fractal model suggests that any short-term recovery could stall near resistance levels between $3,600 and $3,800, potentially followed by a sharp decline — with downside targets extending below $1,385 heading into 2026.

Overall, analysts agree that Ethereum must reclaim key resistance levels soon to avoid further downside pressure and restore bullish momentum.

#ETH #Ethereum