Article Details

ETH hovers near $2,970–$3,000 with bearish pressure and fragile bounces

TL;DR

• Ethereum trades in a clear bearish trend, below all key moving averages (EMA 20/50/200).
• Key resistance is at $3,050–$3,100; support is at $2,924–$2,950, with $2,800 as critical.
• RSI is near oversold but shows no reversal, and MACD confirms downside momentum.

Ethereum (ETH) ends December 30 in a bearish daily trend, despite brief intraday advances. Price trades below the EMA 20/50/200, which maintains a lower-range bias and caps recovery attempts around $3,000–$3,080. Rebounds meet sellers inside that band, a signal of short-term seller control.

The broader crypto market shows weak volume into year-end and muted volatility. Sentiment gauges sit in fear or indecision, a context that often precedes sharp moves when liquidity returns.

The technical map offers clear reference points

On resistance, first supply rests at $3,000–$3,050; above it, traders look to $3,100–$3,150 for added confirmation. On support, the $2,924–$2,950 band acts as tactical containment; $2,800 draws focus as psychological and technical support. A firm break below $2,800 can quicken selling toward $2,600–$2,500.

The daily RSI drifts toward the low area near 30. That read signals early oversold conditions and leaves room for short-lived technical bounces. Even so, the oscillator does not confirm a trend reversal. The MACD holds below zero, aligned with seller momentum and with moving averages stacked above price.

On daily time frames, many operators mark a bear flag under construction. The pattern favors bearish continuation if price validates with rising volume on a channel break. Repeated rejection around $3,030–$3,080 reinforces the view of active supply on rallies.

Directional profiles prioritize risk control around the core zones: aggressive longs only trigger on $3,050–$3,100 reclaim with a daily close and expanding volume; on the downside, clean breaks under $2,800 open room toward $2,600–$2,500. Range traders scalp bounces between $2,924–$2,950 and $3,000–$3,050, using tight stops due to thin holiday liquidity.

Total crypto capitalization retakes the $3 trillion mark, yet ETH still lags under key ceilings. Intra-day relative strength improves on select sessions; however, the background bias stays bearish while price fails to retake the EMA 50 and hold above $3,100.

ETH remains in a descending range with seller pressure in charge. The market asks for decisive acceptance above $3,050–$3,100 to improve bias. A break of $2,800 adds risk of extension toward $2,600–$2,500. Until moving averages turn up and momentum shifts, the base case stays defensive, with room for brief relief rallies rather than sustained trends.