Ethereum Price Faces Resistance at $3K, Could a Bounce to $2.8K Be Coming?

Ethereum’s price action has been marked by recent resistance and a potential short-term bounce. While the cryptocurrency failed to break through the crucial $3,000 barrier, it currently trades around $2,871.77 following a 2.8% gain over the past 24 hours. Despite this rebound, ETH is still down by 6.1% in the last week. The chart shared by analyst Ted shows a key resistance zone in red, with ETH currently trading below it. The immediate support level sits near $2,800, which has held as support during previous pullbacks.