Ethereum struggles below the $3,000 threshold, prompting analysts to warn of potential further declines if the cryptocurrency fails to reclaim this critical level. The second-largest digital asset has lost 16% this month and now trades near $2,940.
What Happened: Price Rejection
Market analyst Ted Pillows stated that Ethereum could drop toward $2,800 without a quick recovery above $3,000. This would represent an additional 5% decline from current levels.
Analyst Columbus noted Ethereum continues trading below its Volume Weighted Average Price, indicating weak momentum.
The recent bounce from the $2,800-$2,850 range appears "more responsive than impulsive," suggesting limited buying conviction.
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Why It Matters: Resistance Overhead
Columbus identified significant liquidity concentrated between $3,050 and $3,250 that has capped upward price movement. Without reclaiming this zone, any rallies likely represent short-term rotations rather than sustained trend continuation, according to the analyst.
A failure to hold $2,850 could expose Ethereum to losses toward $2,400-$2,700, where bulk liquidity sits.
Market expert CryptoBullet presented a bearish fractal model suggesting Ethereum could fall to $1,385 in 2026, representing a potential 63% decline if the pattern mirrors 2022 performance.
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