Ethereum Tests $3,000 Support After $3,400 Rejection

⬤ Ethereum (ETH) is losing steam after getting rejected at the $3,400 resistance level, pushing prices back down toward lower support areas. ETH is now approaching a critical support zone between $3,000 and $3,100—an area that’s held up pretty well during previous volatile periods. The chart shows how price reversed from the upper resistance and entered a correction phase, bringing all eyes back to this mid-range level.

⬤ The chart clearly shows ETH forming a ceiling around $3,400, where sellers overwhelmed recent buying pressure. After rejecting that level, Ethereum started pulling back toward the next support zone. If ETH can bounce successfully from the $3,000 to $3,100 area, it could trigger another rally with potential targets reaching $3,700 to $3,800. The chart’s price paths illustrate this possible continuation pattern if buyers regain control.

⬤ But there’s real downside risk here too. The chart maps out a scenario where ETH breaks below $3,000 support and drops toward $2,800—the next major demand zone shown in the analysis. This would signal a deeper correction that fits with the broader market weakness we’ve been seeing lately. How price behaves around these support levels looks crucial for determining whether ETH gets back on its uptrend or extends this pullback.

⬤ This matters because Ethereum’s movement in this range could influence overall crypto market sentiment and shape what traders expect in the near term. The reaction at $3,000 support will help clarify whether ETH is gearing up for another leg higher or settling into a longer consolidation period as market conditions shift.