2026-01-03 08:22:05

In 2026, the crypto market did not bring any surprises. Ethereum continued to be under pressure below $3000, and each rebound was quickly extinguished. From a technical perspective, this wave of market movement clearly exhibits typical weak-characteristics—"lower highs" in succession—indicating that the bears are gaining the upper hand.

The only question now is: can the $2880-$2900 level hold? Market analysts generally agree that this area has become the critical dividing line for Ethereum's short-term trend. If the daily chart breaks below this level, it could face even more intense downward pressure, with $2800 and even $2700 not being impossible.

Looking at recent market behavior makes this clear. On December 30, the price rebounded to $3002, but before gaining momentum, it turned back and retraced to around $2970. This repeated pattern shows that the $3000-$3020 zone has become a defensive fortress for the bears. Every time the price rises, it faces resistance, and such "rise and sell" phenomena are becoming more frequent, indicating that the bears' control is strengthening.

Even more painfully, all moving averages are currently pressing down from above—20-day, 50-day, 100-day, and 200-day moving averages are all arrayed overhead, forming real pressure. Under this pattern, it’s very difficult to see a meaningful rebound. Every upward attempt faces dense selling pressure, and market sentiment has shifted from cautious waiting to clear bearishness.

Coupled with the risk of liquidation, there are currently $9.72 billion in liquidation positions hanging over the market. Once support levels break, chain reactions could accelerate the decline. This is why every technical level at this stage appears so critical.

ETH1,28%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

20 Likes

Reward
20
8
Repost
Share

Comment

0/400

MEVSandwichVictim

· 2h ago

Another day of being crushed by the bears. If we can't hold above 2880, it's really over. Can't even break 3000, what else is there to think about? All moving averages are pressing down on the head, this pattern is boring. The 972 million liquidation hits hard, it must hurt a lot. Rebound once, die once, so annoying. The bears' control this wave is indeed strong, gotta admit. Feels like 2700 might be the next support. Buy the rally and sell immediately, I'm tired of this script. If support can't be held, it's really time to cut losses.

View OriginalReply0

ContractExplorer

· 16h ago

Here comes the face slap again. Will the bears really eat us this time? If we can't hold 2880, it's game over. Cold sweat is pouring out. Sell on the rally, this rhythm is too familiar, always deceiving like this. A liquidation position of 972 million is hanging over our heads, feeling like it's going to explode. All moving averages are pressing down on top, rebounds are rare and hard to come by, what else is there to play? If you ask me, we should wait. Entering the market now is too irrational. This time, the bears are really holding strong, leaving little room for operation. Hold onto 2880 to survive; break below and it's game over, it's that simple.

View OriginalReply0

BuyHighSellLow

· 01-03 08:52

Now we really have to hold at 2900, or else we’ll head straight to 2700... The bears are too fierce, 3000 is completely unreachable All moving averages are pressing down, what kind of rebound is this The liquidation positions amount to 972 million, it's scary Once again, a quick rise followed by a sell-off, the tactics are too deep This wave of market action is really dull, everyone is feeling frustrated Is 2880-2900 the last line of defense? The bears are in control, and we retail investors can only watch the show Every rebound gets sold off, so annoying The risk of liquidation is really nerve-wracking, gotta be careful

View OriginalReply0

GasFeeCrybaby

· 01-03 08:52

Again and again, I can't break 3k, it's really incredible. The bears' control this wave is indeed terrifying, my long positions got hit again. If I can't hold 2880, I'll admit defeat. I can't stand this repeated torment. A liquidation of 9.72 billion is waiting, once it collapses, a bunch of people will be finished. This market looks suffocating, the moving averages are pressing down hard. Why bother? If I had known earlier, I wouldn't have chased the high. Now I'm trapped and dead. Always buying high and selling low, when will it end? I'm betting on 2700, how long can the bears keep being so arrogant?

View OriginalReply0

CascadingDipBuyer

· 01-03 08:49

Once again "sell on the rise," can the bears really hold up? Can 2880 really hold? Feels uncertain. All moving averages are pressing down from above, even a rebound seems difficult. Clearance of 972 million is looming; breaking 2880 would be the end. Can we catch this wave to the bottom, or will it continue to drop? Another false breakout, waiting to see 2700.

View OriginalReply0

RunWhenCut

· 01-03 08:39

Here we go again, the bears are acting up. Can 2880 really hold? I’m really doubtful. If it drops to 2700, I’ll just liquidate everything. No more messing around. The moving averages are all pressing down on the head, which is really uncomfortable, but I’m still waiting for a rebound to sell. With 1.072 billion in liquidation positions, this game is a bit big; I need to be cautious. Sell immediately on a rally; that’s the current attitude. Do retail investors still dare to buy the dip? If the 3000 fortress is broken, should I cut my losses or hold on stubbornly? Why does it always lose momentum after bouncing back to 3000? This is testing my patience. With such high liquidation risk, I’ve decided to stay on the sidelines for now. Capital preservation is the most important. Watching the major moving averages suppressing the price, it feels like the rebound is powerless. When will this really end?

View OriginalReply0

InscriptionGriller

· 01-03 08:36

Here we go again with the moving average theory. The bearish defense fortress is just like this. If it really breaks, it's probably the old trick of the whales shaking out the retail investors. This wave of ETH is just no one willing to buy in. Liquidating positions and hanging there is basically a harvesting tool ready for the retail investors. Whoever dares to buy the dip will suffer. It's normal if the $3000 support can't hold. When has the crypto world ever had a truly critical dividing line that actually worked? A liquidation risk of 972 million? Just hearing this number makes you realize how many people should be going bankrupt. Old Ma has seen much worse crashes than this. In this kind of market, there's no point in analyzing. It's better to just wait for the death spiral to come and get it over with.

View OriginalReply0

OnchainArchaeologist

· 01-03 08:31

It's the same old story again, bears eating meat and bulls drinking soup. Can 2880 really hold? I think it's a toss-up. Daily moving average suppression, so annoying. Liquidation risk—whoever touches it will have bad luck. Feels like it needs to drop to 2700 to stop the bleeding. This 3000 level has really become an iron gate. Rebound and then crash—this bear market is indeed arrogant. The highs are getting lower and lower, a typical death spiral. Let's wait and see if 2800 can hold; otherwise, it's really over.

View OriginalReply0