Ethereum Price Plunges: Will It Rebound Above $3,000?

Ethereum’s price has experienced a notable downturn, facing downward pressure that has eroded gains made earlier in the year. Institutional sentiment is cooling, leading to increased selling from long-term holders. This poses the question of whether the critical support level at $3,000 will hold, or if we are headed for a deeper correction. This isn’t just about short-term price movements; it represents a test of Ethereum’s inherent strength as it navigates an increasingly complex macroeconomic landscape and prepares for upgrades planned for 2025.