Overview
- ETH trades around $3,000–$3,100 after a 20%–24% monthly slide, holding above the 200‑week moving average but below shorter-term trend lines.
- Binance’s Estimated Leverage Ratio hit a record near 0.5617 and roughly 509,900 ETH flowed into the exchange, heightening the chance of forced unwinds.
- Spot and futures activity thinned, with 24‑hour spot volume down about 30% and futures volume off 29%, reflecting weak follow‑through in price moves.
- Technicals flag a bullish RSI divergence and an ascending‑triangle setup, yet analysts say a sustained rebound likely needs stronger buying volume and a break through $3,200–$3,350 toward $3,425–$3,650.
- Key supports cluster at $2,950 and $2,880—near the accumulation cohort’s realized price—with downside risk extending to roughly $2,700–$2,800 if those levels fail.