Ethereum slides below $3,000 as sellers defend $3,020 and $2,880 becomes the key line

• Ethereum has broken under $3,000 after failing at $3,200, and charts are warning of downside risk if $2,880 gives way.

• ETH is trading below $3,000 and the 100-hour Simple Moving Average, with a bearish trend line capping rebounds near $3,020.

• A hold above $2,880 could still keep a rebound attempt alive, but momentum indicators remain tilted bearish.

Ethereum price started a fresh decline from the $3,200 resistance and has now slipped into a consolidation phase after a sharp pullback. With ETH trading below $3,000, the near-term setup remains fragile, and the market is vulnerable to further losses if support levels fail.

ETH drops more than 5% after losing $3,000

Ethereum failed to stay above $3,200 and turned lower, mirroring the broader move seen in Bitcoin. The slide took ETH below $3,150 and $3,120, pushing the price into a bearish zone. Sellers then forced a break under $3,000, with ETH testing $2,910 before stabilizing.

Price is now consolidating below the 23.6% Fibonacci retracement of the downswing from the $3,367 swing high to the $2,910 swing low. The hourly chart also shows a key bearish trend line forming, with resistance at $3,020 for ETH/USD (Kraken feed).

Ethereum is trading below both $3,000 and the 100-hourly Simple Moving Average. If bulls can prevent a deeper breakdown below $2,880, ETH may still attempt another push higher — but it would need to reclaim nearby resistance first.

Resistance levels: $3,020, then $3,080 and $3,120

The first hurdle sits at $3,020, where the bearish trend line is currently limiting upside attempts. Above that, the next resistance is near $3,080, followed by $3,120.

A clean move above $3,120 could shift the tone and bring $3,150 into play, alongside the 50% Fibonacci retracement of the decline from $3,367 to $2,910. If ETH can break above $3,150, the chart would allow for further upside over the following days, with $3,220 and even $3,300 seen as potential near-term targets.

Downside risk: losing $2,880 could open $2,800 and $2,750

If Ethereum cannot clear $3,020, the market risks another push lower. Initial support sits near $2,920, but the more important level is the $2,880 zone.

A decisive move below $2,880 would likely tilt the setup back toward continuation selling, exposing $2,800 as the next support. Further weakness could drag ETH toward $2,750, with $2,650 described as the main support below.

Technical indicators

• Hourly MACD: gaining momentum in the bearish zone

• Hourly RSI: below the 50 level

• Major support: $2,880

• Major resistance: $3,020