ETH Price Hits $3,000 Support Amid Strong Downtrend | Airdrop Alert Pro

Ethereum (ETH) price has fallen by 7% in the past 24 hours, with bearish momentum pointing to the possibility of further declines below $3,000. The recent death cross on the ETH EMA line indicates an intensifying downward trend as sellers continue to take control.

If key support is breached, ETH could test $2,927 or even drop to $2,358, the lowest since November 2024. However, if a reversal occurs, ETH may target resistance at $3,334 and above, raising hopes of recovery.

Ethereum sellers take control

Ethereum The DMI chart shows that its ADX has risen sharply to 21.5 from 10.2 a day ago, indicating that the trend is gaining strength after a period of downturn.

ADX measures the strength of a trend (regardless of direction), using a threshold below 20 to indicate a weak or no trend, and a value above 25 to indicate a strong trend. ADX is now over 20, Ethereum There is a shift from sideways movement to a clearer trend.

+DI, which represents bullish pressure, has dropped significantly from 19 to 10.9, while -DI, ​​which reflects bearish pressure, has surged from 21.2 to 38.4. This shift highlights that sellers are now in control, pushing ETH into a clear downward trend.

The combination of rising ADX and increasing bearish pressure confirms that the trend is strengthening, signaling the potential for further losses in stocks. Ethereum price move.

Whale addresses are accumulating ETH

Number of wallets holding at least 1,000 EthereumThe number of whales, known as whales, has begun to recover after a sharp decline between January 15 and January 19, when the number fell from 5,690 to 5,663.

Currently, the number stands at 5,685, which is still slightly below the recent peak of 5,690, the highest level since February 2024, but still represents a relatively high concentration of whale activity.

Addresses with balance >= 1,000 ETH. source: glass node

Tracking whales is crucial because their movements can have a significant impact on markets. High whale wallet numbers, such as the current level of 5,685, indicate significant accumulation by large holders and generally indicate confidence in ETH’s long-term potential.

A resurgence in whale activity could indicate increased buying interest, which could support Ethereum price Stable or indicative of bullish sentiment in the market.

ETH Price Prediction: Can Ethereum Drop Below $3,000?

Yesterday, ETH’s EMA line showed a death cross, indicating bearish momentum. ETH has fallen more than 7% in the past 24 hours. If the downtrend continues, Ethereum price Can be tested for $2,927.

Further declines could push it to $2,723 or even $2,358, the lowest level since early November 2024.

or if Ethereum price If it regains positive momentum and reverses the current trend, a test of the $3,334 resistance is likely. A break above this level could pave the way for further gains, with potential targets at $3,473 and $3,745.