The Ethereum price has plummeted below the critical $3,000 level as the broader cryptocurrency market experiences an intense sell-off, triggering renewed uncertainty among traders.
ETH is currently trading around $3,067, marking a 23% decline over the past month and signaling one of its steepest corrections of 2025.
Long-Term Holders Accumulate, But Pressure Mounts
Despite the sharp correction, on-chain data shows long-term Ethereum holders are doubling down. According to CryptoQuant, Ethereum is trading roughly 8% above the Accumulation Addresses Realized Price, a metric that tracks the cost basis of seasoned holders.
These investors have added 17 million ETH in 2025, increasing their total holdings from 10 million to over 27 million coins, suggesting deep conviction even as markets wobble.
However, the selling pressure across exchanges remains intense. More than 164,000 traders were liquidated in 24 hours, with total liquidations nearing $900 million.
Ethereum price also entered a major liquidation zone between $2,900 and $3,000, amplifying volatility. Outflows from Ethereum ETFs also surged, with over $728 million withdrawn in a week, further weakening sentiment.
Adding to market anxiety, high-profile crypto figure Arthur Hayes reportedly offloaded 1,480 ETH, sparking speculation that influential traders may be bracing for a deeper downside.
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, the Ethereum price structure remains fragile. The asset is trading below the 100-hourly SMA and struggling to reclaim the 50-week moving average, which now acts as resistance. A bearish trend line has formed near $3,150, with additional hurdles at $3,260 and $3,350.
On the downside, immediate support lies at $2,950, followed by a stronger floor at $2,880. A break below this region could open the path toward $2,750 or even $2,680 levels, which analysts warn could trigger broader market contagion.
Is a Recovery Still Possible?
Even amid the chaos, some analysts remain optimistic. Fundstrat’s Tom Lee insists ETH may be bottoming, projecting a potential rally toward $7,000 within 45 days, fueled by the upcoming Fusaka network upgrade, booming stablecoin activity, and growing institutional interest.
For now, the Ethereum price remains caught between strong long-term accumulation and escalating short-term selling pressure. Whether bulls reclaim the $3,150 resistance, or bears push ETH toward fresh lows, will likely hinge on macroeconomic data and Bitcoin’s next major move.
Cover image from ChatGPT, ETHUSD chart from Tradingview
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