Key Insights:
- ETH remains below its 20‑day moving average, keeping short‑term momentum weak and uncertain for buyers.
- Support at $2.5K–$2.6K is critical, as traders monitor whether this level can stop further decline.
- Resistance at $3K–$3.1K blocks upside progress, leaving Ethereum trapped between major support and resistance.
Ethereum was priced around $2,826.53, following a 7.1% drop in the past 24 hours. Despite a small gain over the past week, the price remains under pressure. ETH continues to trade below the 20-day moving average—a short-term trend indicator that many traders watch closely.
Analyst Michaël van de Poppe noted that a move above this average is needed to shift momentum. For now, that break hasn’t happened.
he said,
Source: Michaël van de Poppe /XThis view suggests that ETH may remain range-bound unless buyers step in with more strength.
$2,500–$2,600 Support Zone Under Scrutiny
A major area of interest is forming between $2,500 and $2,600. Price action over the last few sessions has brought ETH closer to this zone. Van de Poppe pointed to this level as one that needs to hold if the market is building a base. “Really keen to see $2,500–2,600 hold,” he said, referring to it as a possible signal of bottoming.
This range is also marked on technical charts as an accumulation area. So far, the market hasn’t shown strong demand there. If ETH breaks below $2,500, there could be more downside in the short term. The strength or weakness around this level will likely shape the next move.
Price Structure Reflects Ongoing Correction
According to More Crypto Online, the recent bounce from the November 21 low appears to have formed a three-wave move. This is being interpreted as part of a larger corrective pattern. Ethereum has now returned to a support zone between $2,720 and $2,852, which was labeled as the main area for the yellow B-wave.
At this point, there hasn’t been a clear bounce from that support. The analysis suggests that a fifth wave to the downside is still on the table, especially if ETH falls below $2,720. The correction would remain valid within the broader wave 4 structure as long as that level holds.
$3,000–$3,100 Resistance Still Capping the Upside
While the market looks for a base, there’s also attention on the upside. The price zone between $3,000 and $3,100 is acting as resistance. This level has yet to be broken during recent rallies. Van de Poppe referred to this area as a “crucial resistance zone to break through.”
A close above $3,100 could change sentiment and open the door for further gains. Until then, traders are watching both ends of the current range. For bulls, holding $2,500–$2,600 is just as important as reclaiming the $3,000 level.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/eth-targets-3kbut-can-the-2-5k-support/
