Ethereum News Today: Ethereum's $3,065 Support: The Bearish-Bullish Tipping Point

Ethereum's price has struggled to maintain positions above key resistance levels, with analysts observing a tug-of-war between bullish and bearish forces in the $3,000–$3,500 range. After briefly testing $3,200 earlier this week, the cryptocurrency has retreated below $3,150, a critical psychological threshold that has repeatedly stymied upward momentum. Technical indicators suggest the asset remains in a short-term bearish phase, though some analysts see potential for a rebound if buyers consolidate near the $3,065 support zone.

The price action reflects broader market weakness, with Ethereum mirroring Bitcoin's volatile trajectory. Following a failed attempt to break above $3,150, ETHUSDT dipped below $3,000, forming a low at $2,941 before retracing higher. This pullback has drawn attention to Fibonacci retracement levels, particularly the 50% and 76.4% levels of the recent decline from $3,217 to $2,941, which now act as dynamic resistance. Meanwhile, a key bearish trend line on the hourly chart-anchored at $3,150-continues to cap upside attempts.

The illustrates the ongoing tug-of-war in the $3,000–$3,500 range. The chart highlights recent price behavior, resistance and support levels, and the formation of a key bearish trend line.

Analysts are split on the immediate outlook. Optimists argue that a sustained recovery above $3,150 could trigger a test of $3,220 and eventually $3,320, with some models projecting a potential move toward $3,450–$3,500 if macroeconomic conditions stabilize. Conversely, bears warn that a breakdown below $3,065 could accelerate the slide toward $3,020 and potentially $2,950, with deeper support zones at $2,880 and $2,750 looming. The 100-hourly simple moving average, currently at $3,120, has also failed to provide meaningful support, underscoring the fragility of the current structure.

The shows the recent bearish trend and RSI behavior. The RSI has recently crossed above 50, suggesting possible stabilization, while the KLINE chart reflects the ongoing tug-of-war between buyers and sellers in the $3,000–$3,500 range.

The broader crypto market's fragility has compounded Ethereum's challenges. With top-10 tokens collectively down over 5% in the past 24 hours, liquidity constraints and ETF outflows have amplified downward pressure. On-chain data reveals that long-term holders have controlled 27 million ETH near $3,450–$3,550, a cluster that could act as a magnet if short-term volatility subsides. However, a false breakout below the $2,959 support level has raised concerns about further declines into the $2,800–$2,900 range.

Technical indicators add nuance to the debate. The hourly MACD for ETH/USD is losing momentum in the bearish zone, while the RSI has recently crossed above 50, hinting at potential stabilization. Meanwhile, the Alligator indicator -a volatility tool- suggests the market is entering a low-volatility "sleeping" phase, which could precede either a bullish breakout or a deeper correction. Traders are also monitoring the $3,160–$3,200 confluence zone, a demand area that could trigger renewed buying interest if liquidity is absorbed.

Longer-term fundamentals remain a wildcard. Ethereum's ecosystem has seen steady progress in stablecoin infrastructure and Layer-2 scalability solutions, which analysts argue could bolster its competitive position against other blockchains. However, these developments have yet to translate into immediate price action, as macroeconomic headwinds-including Bitcoin's plunge below $100,000-continue to weigh on risk appetite.

In summary, Ethereum's near-term trajectory hinges on the defense of $3,065 and the ability of buyers to reclaim $3,150. A decisive break above $3,250 could reignite bullish optimism, while a sustained drop below $3,000 would likely deepen the bearish narrative.