Ethereum’s Price Plummets: Can Buyers Hold the Line at $3,000?

Ethereum continues to decline, hovering below the $3,100 level as overall crypto sentiment remains subdued. After experiencing a breakdown from a local distribution range, ETH has seen consistent lower highs and lows, raising concerns about further price erosion. Despite short-term oversold signals, buyers remain hesitant, reflected in decreasing open interest that indicates reduced leverage in the derivatives market.