Ethereum Tumbles Below $3,000 as Bears Break Key Technical Support

Ethereum's price dropped below $3,000 and continues to show signs of weakness as sellers push the cryptocurrency toward critical support levels.

The second-largest digital asset by market capitalization is trading below key technical indicators, signaling potential further declines if bulls fail to defend the $2,880 threshold.

Ethereum started a fresh decline after failing to hold above the $3,000 pivot level, mirroring Bitcoin's recent weakness. The cryptocurrency broke below $2,980, entering bearish territory according to technical analysts.

If bulls protect the $2,880 level, Ethereum could mount a recovery toward $3,000 and potentially $3,050. However, failure to reclaim $3,000 resistance could trigger additional selling pressure.