The Ethereum price today is $2,958, down 6.8% over the past 24 hours after decisively breaking below the psychologically important $3,000 level. ETH continues to underperform Bitcoin with the ETH/BTC ratio sliding to year-lows.
Key Levels
Support: $2,900 (immediate) / $2,800 (historical demand zone) / $2,650 (breakdown target)
Resistance: $3,000 (psychological, now resistance) / $3,100-$3,150 (20-day EMA cluster) / $3,400 (recent rejection zone)
Volume increased significantly during the breakdown, with trading activity up 35% as sellers accelerated positions. The RSI at 27-30 indicates oversold conditions.
Catalyst
Broader risk-off sentiment following hawkish Fed guidance dragged ETH lower. Ethereum products saw net outflows despite $338 million in inflows last week.
Ethereum Price Prediction
Short-term (24-48h): Consolidation between $2,900-$3,050 likely. Watch for a reclaim of $3,000 as first bullish signal.
Medium-term (1-2 weeks): Recovery toward $3,200-$3,300 if Bitcoin stabilizes and risk appetite returns.
Bullish scenario: Daily close above $3,150 → target $3,400 resistance retest
Bearish scenario: Daily close below $2,800 → risk of extension to $2,650
Invalidation: The recovery thesis fails on a daily close below $2,650.
Analysis by BlokchainFeed's market team — former TradFi professionals and on-chain analysts tracking crypto markets since 2013.
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