Ethereum price has fallen below the critical $3,000 level as the broader cryptocurrency market experiences a sell-off, triggering fresh uncertainty among traders.
ETH is currently trading around $3,067, marking a 23% decline over the past month and signaling one of its strongest corrections of 2025.
Long-term holders pile up, but pressure mounts
Despite the sharp correction, on-chain data shows long-term Ethereum holders doubling. According to CryptoQuant, Ethereum trades around 8% above the realized price of accumulation addresses, a metric that tracks the cost basis of seasoned holders.
These investors added 17 million ETH in 2025, increasing their total holdings from 10 million to over 27 million coins, suggesting deep conviction even as markets falter.
However, selling pressure on the stock markets remains intense. More than 164,000 traders were liquidated in 24 hours, for a total liquidation amount close to $900 million.
Ethereum price also entered a major liquidation zone between $2,900 and $3,000, amplifying volatility. Outflows from Ethereum ETFs also increased, with more than $728 million withdrawn in a week, further weakening sentiment.
Adding to market anxiety, leading crypto figure Arthur Hayes reportedly unloaded 1,480 ETH, sparking speculation that influential traders may be preparing for a deeper drop.
ETH's price trends to the downside on the daily chart. Source: ETHUSD on Tradingview
Ethereum Price Technical Levels Signal Caution
From a technical perspective, Ethereum’s price structure remains fragile. The asset is trading below the 100 hour SMA and is struggling to reclaim the 50-week moving average, which now acts as resistance. A downtrend line has formed near $3,150, with additional hurdles at $3,260 and $3,350.
On the other hand, immediate support lies at $2,950, followed by a stronger bottom at $2,880. A break below this zone could open the way to levels of $2,750 or even $2,680, which analysts say could trigger broader market contagion.
Is a recovery still possible?
Even amid the chaos, some analysts remain optimistic. Fundstrat’s Tom Lee insists ETH could bottom, projecting a potential rally towards $7,000 within 45 days, fueled by the upcoming Fusaka network upgrade, booming stablecoin activity and growing institutional interest.
For now, Ethereum price remains stuck between strong long-term accumulation and increasing short-term selling pressure. Whether the bulls reclaim the $3,150 resistance or the bears push ETH to new lows will likely depend on macroeconomic data and Bitcoin’s next major move.
Cover image from ChatGPT, ETHUSD chart from Tradingview
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