Ethereum's Stalled Ascent: Analysts Warn of Potential Dips Below $3,000
Ethereum (ETH) has encountered significant resistance in its attempt to reclaim the crucial $3,000 price level over the past 48 hours, sparking widespread concern among investors and analysts. The inability to secure this key psychological and technical threshold could signal a more challenging outlook for the cryptocurrency as the year draws to a close.
Immediate Headwinds for ETH
Market analyst Ted Pillows highlighted on social media platform X (formerly Twitter) that a failure to swiftly recover above $3,000 could expose Ethereum to further downside pressure, potentially pushing its value towards the $2,800 range. This would represent an additional 5% retracement from its current trading price, hovering around $2,940, and compound an already recorded 16% monthly decline. Complementing this sentiment, analyst Columbus observed that Ethereum is consistently trading below its Volume Weighted Average Price (VWAP) and faces substantial overhead liquidity, particularly between $3,050 and $3,250, which has repeatedly capped any upward price movements. The recent bounce from the $2,800-$2,850 range was characterized as "responsive" rather than "impulsive," suggesting a lack of strong conviction among buyers.
Bleak Long-Term Projections
Looking ahead to 2026, market expert CryptoBullet presented a more somber outlook for Ethereum. Introducing a "fractal model" that draws parallels to ETH's performance in 2022, CryptoBullet's analysis suggests a potential dramatic decline. While a brief recovery might occur in January and February, it is anticipated to meet robust resistance between $3,600 and $3,800. Should this resistance hold, subsequent months could witness Ethereum's price plummeting to a target of $1,385, signifying a staggering 63% drop from its current levels. This bearish projection underscores the precarious position Ethereum finds itself in, with significant technical barriers and historical patterns pointing to potential extended weakness if key support levels are not maintained.
