The price of Ethereum plunged below the critical $3,000 level as the broader cryptocurrency market experienced a severe sell-off, sparking fresh uncertainty among traders.
ETH is currently trading around $3,067, has fallen 23% over the past month and is poised for one of the steepest corrections of 2025.
Long-term holders accumulate, but pressure mounts.
Despite the sharp correction, on-chain data shows that the number of long-term Ethereum holders is doubling. According to CryptoQuant, Ethereum is trading about 8% above the Accumulation Addresses Realized Price, an indicator that tracks the cost base of seasoned holders.
These investors added 17 million ETH in 2025, increasing their total coin holdings from 10 million to over 27 million. This shows deep confidence even amid market turmoil.
However, selling pressure across exchanges remains strong. More than 164,000 traders were liquidated in 24 hours, with total liquidation amounting to nearly $900 million.
Ethereum price also entered the main liquidation zone between $2,900 and $3,000, amplifying volatility. Ethereum ETF outflows also surged, with more than $728 million withdrawn in just one week, further weakening sentiment.
Adding to the market jitters, prominent cryptocurrency figure Arthur Hayes reportedly offloaded 1,480 ETH, sparking speculation that influential traders may be bracing for a bigger downturn.
ETH's price trends to the downside on the daily chart. Source: ETHUSD on Tradingview
Ethereum Price Technical Level Signals Beware
From a technical perspective, the Ethereum price structure remains weak. The asset is trading below its 100-hour SMA and is struggling to regain its 50-week moving average, which is currently acting as resistance. A bearish trend line was formed near $3,150, with additional obstacles forming at $3,260 and $3,350.
On the downside, immediate support remains at $2,950, followed by stronger support at $2,880. A fall below this area could open the way to the $2,750 or even $2,680 levels, which analysts warn could trigger a broader market contagion.
Is recovery still possible?
Despite the chaos, some analysts remain optimistic. Fundstrat’s Tom Lee argues that ETH could bottom and rise towards $7,000 within 45 days, thanks to the upcoming Fusaka network upgrade, surging stablecoin activity, and growing institutional interest.
Ethereum price is currently stuck between strong long-term accumulation and increasing short-term selling pressure. Whether the bulls will recover the $3,150 resistance or the bears will push ETH to new lows will depend on macroeconomic data and Bitcoin’s next major move.
Cover image by ChatGPT, ETHUSD chart by Tradingview
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