Ethereum (ETH) at the Brink: Why This Support Level Must Hold

Ethereum (ETH) is trading around $3,000, showing a modest gain over the last 24 hours. The price is still within a rising channel that began forming in November 2025.

Despite the recent dip from levels near $3,400, buyers stepped in as ETH touched the lower range of the channel, keeping the broader trend intact.

Key Channel Holds Amid Pullback

The current move follows a bounce from the $2,900–$2,950 zone. This area has provided support multiple times in recent months. The price remains below both the midline of the channel and the 50-day moving average, which sit between $3,060 and $3,100. A break above these levels could open the way toward the top of the channel, which is near $3,600–$3,700.

Alpha Crypto Signal commented on the setup, saying,

As long as the lower boundary holds, the current pattern remains valid. Another analyst, Batman, described the current area as a critical level for bulls, stating,

ETH/BTC Nearing Key Support Area

Ethereum’s position against Bitcoin has also come into focus. The ETH/BTC pair is resting just above 0.0327 BTC, a level marked as a higher-timeframe support zone. The price action has fallen below the 21-day moving average, which may signal short-term weakness.

Michaël van de Poppe, founder of MNF Fund, noted the importance of a recovery, stating,

Beyond price action, Ethereum’s realized price for accumulation wallets is nearing the current market price. Analyst CW shared, “The realized price of the $ETH accumulation address continues to rise and is approaching the current price. This indicates that accumulation is still ongoing.” According to on-chain trends, the $2,720 range has held up historically as a floor.

Meanwhile, centralized exchange reserves are dropping. CryptoQuant data shows that ETH balances on exchanges have declined to 16.2 million, the lowest since 2016. Binance saw a reduction from 4.168 million to 4 million ETH since early January. Staking activity has also increased, reducing the liquid supply further.

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