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. I think 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. Honestly, I’m never completely sure about these technical patterns, but when multiple people are watching the same levels, it’s worth paying attention.
The Wyckoff perspective
The 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. It’s a big “if” at this point.
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 Binance, reflecting modest losses on the session. It’s one of those moments where the market seems to be pausing, waiting for some direction.
I find myself checking the charts more often when we’re at these technical levels. Maybe it’s because they feel more meaningful, or perhaps it’s just that everyone else is watching them too. Either way, the $2,900 area looks like it matters right now.
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.
Sometimes I wonder if all these technical levels become self-fulfilling prophecies. When enough traders are watching the same numbers, they tend to react around them. But maybe that’s just how markets work. People need reference points.
For now, Ether is testing that $2,900 support. Whether it holds or breaks could tell us something about where things go next. Or maybe it’ll just bounce around in this range for a while longer. Markets have a way of doing what’s least expected, after all.
