Today, Ethereum (ETH) is facing significant bearish pressure, dropping roughly 5-7% to trade near $2,910 – $2,936. This sharp decline marks a breakdown from the $3,000 psychological level, largely triggered by a broader "risk-off" sentiment in global markets and rising US Treasury yields. On-chain data reveals massive leveraged liquidations and nearly $713 million in outflows from Bitcoin and Ethereum ETFs, signaling a cooling of institutional appetite. Technically, ETH is showing a "Death Cross" (50-day moving average crossing below the 200-day), suggesting that sellers are currently in control.

Possible Next Move

The immediate direction depends on the $2,880 support. If ETH fails to hold this level, we could see a rapid slide toward $2,750 or even $2,650. However, if buyers defend $2,880, expect a "relief rally" or consolidation toward the $3,020 resistance as the market attempts to stabilize.

Today’s Impactful News

ETF Outflows: A combined $713 million was pulled from BTC and ETH ETFs, creating heavy selling pressure.

Macro Pressure: Rising 10-year Treasury yields have pushed investors away from "high-beta" assets like Ethereum.

Whale Activity: Reports show major whales (e.g., "7 Siblings") holding massive leveraged positions at an unrealized loss, which risks further "cascading liquidations" if prices drop more.

Vitalik’s Proposal: Vitalik Buterin recently proposed native DVT staking to boost security, though this long-term positive is currently overshadowed by short-term price action.

Professional Trader Zones

Zone Type,Specific Price Levels,Action/Strategy
Major Resistance (Sell),"$3,020 – $3,120","Professional sellers are defending the $3,020 trend line; a break above $3,120 is needed for a trend reversal."
Immediate Support (Buy),"$2,880","The ""Must-Hold"" line. Aggressive traders may look for ""scalp buy"" entries here with tight stop-losses."
Deep Value Zone (Buy),"$2,650 – $2,750","A historical high-demand area where institutional ""whales"" typically look to accumulate."
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