Ethereum Defies Gravity: Can ETH Sustain $3000 Support Amid Bitcoin’s Nosedive?
Ethereum stands at a make-or-break moment as Bitcoin's collapse rattles crypto markets. The $3,000 support level emerges as the battleground between panic and conviction.
The Bull Case: ETH's network activity remains robust despite macro headwinds—developers keep building while Wall Street 'experts' rediscover risk management.
Technical Tightrope: Watch for sustained volume above $2,950; a close below could trigger stop-loss cascades. Meanwhile, futures open interest suggests leveraged traders are still betting big.
As Bitcoin drags the entire sector down (again), Ethereum's real test begins: proving it's more than just 'digital silver' to BTC's gold. The next 72 hours will separate diamond hands from paper-handed tourists.
The crypto markets are experiencing one of the deadliest bloodbaths, with the Bitcoin price plunging below the psychological barrier at $100K. This was believed to drag the altcoins lower, but they continue to display strength. Ethereum, the second-largest token, continues to defend the $3000 support level, but the question arises, till when? The BTC price has been plunging heavily, which raises the possibility of the ETH price testing the support at $2900.
Can the ETH Price Defend the Support at $3000?
Ethereum continues to trade above the $3,000 level, showing relatively stable price action despite broader market turbulence. The daily chart reflects a tightening structure, with the ETH price forming higher lows over the past week while repeatedly testing the $3,050–$3,100 zone. This area has now become the immediate support range to watch. On the upside, price remains capped below $3,250, where sell orders have consistently absorbed attempts to break higher.
Ethereum is trading NEAR $3,175, sitting on a key weekly support within its long-term ascending channel. The Bollinger Bands are tightening, signaling a volatility squeeze that often precedes a sharp directional move. At the same time, the plunging OBV reflects weakening buying pressure, increasing the risk of a breakdown. If ETH rebounds, upside targets sit at $3,540, $3,876, and $4,271. Failure to hold this level may drag the price toward $2,850, the lower band and trendline support.
Ethereum’s ability to hold above $3,000, even as broader market sentiment weakens, keeps its medium-term structure intact. The weekly chart shows ETH clinging to a critical support zone, with upcoming moves likely to be driven by volatility around major technical levels. A rebound toward $3,540 and $3,876 remains possible if buyers maintain pressure, while a breakdown below $3,175 could shift momentum decisively bearish. With Bitcoin still unstable, ETH traders should stay alert to strong reactions at these key zones.
