Ethereum at Critical Support: $2,900 Zone Tests as ETH Awaits Next Direction

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Ethereum faces critical support test

Ether is hovering around the $2,900 to $2,950 range right now, which feels like a pretty important moment. The cryptocurrency pulled back from testing the $3,300 level, and now it’s sitting at what analysts are calling a key support zone. This is one of those moments where the next move could set the tone for a while.

Two different analysts have been looking at this situation, and they’re both pointing to similar levels. One chart shows the current area as a possible “last point of support” in something called a Wyckoff accumulation setup. When multiple people are watching the same levels, it’s worth paying attention.

The Wyckoff perspective

A Wyckoff chart shared by analyst Bitcoinsensus shows Ether trading near $2,920. The chart marks previous Wyckoff events on the left side – things like a selling climax, automatic rally, and secondary test. Then it tracks a long trading range through 2022 to 2024.

What’s interesting is the chart highlights two areas marked “LPS” – last point of support. One was around the early-2025 base, and another is near the current zone just below $3,000. The same image shows a horizontal resistance band near the mid-$4,000s, where price previously got rejected.

The analyst’s projection sketches a push back toward resistance, then a breakout labeled “SOS” (sign of strength) and a climb toward $5,000 and above. But that outcome depends on Ether holding the current support area and reclaiming the upper boundary of the range.

Daily chart resistance levels

Meanwhile, a daily ETH/USDT chart from That Martini Guy shows Ether trading near $2,950 after a sharp pullback from the $3,300 area. This chart marks $3,300 as a key resistance zone, with a higher supply band near $3,600 where price previously stalled.

On the downside, the graphic highlights a support region just above $2,900, which price is currently testing after the latest sell-off. The structure shows Ether moving within a broad range that has defined recent price action.

After failing to hold above $3,300, ETH slid quickly back into the middle of the range, then dipped toward the lower support zone. The annotations suggest that a sustained move back above $3,300 would reopen the path toward the $3,600 area.

Decision point for Ether

Continued weakness could expose the lower boundary near $2,800. The chart frames the current level as a decision point. Holding above the $2,900 to $3,000 zone would keep Ether inside its established range, while a confirmed break below would shift focus to the next marked support near $2,800.

Price at the time of the snapshot sat around $2,948 on a major exchange, reflecting modest losses on the session. It’s one of those moments where the market seems to be pausing, waiting for some direction.

The resistance at $3,300 seems pretty clear from the charts. That’s where the price got rejected before. And $3,600 looks like the next hurdle if Ether can get through $3,300. But first things first – it needs to hold this support.

For now, Ether is testing that $2,900 support. Whether it holds or breaks could tell us something about where things go next. Markets have a way of doing what’s least expected, after all.