ETH Technical Outlook: Price Action Near Critical Threshold

Ethereum is currently testing the waters around the $3,000 mark, a critical resistance level for bulls. The real test comes during pullbacks—specifically, whether the asset can hold the 2-hour fair value gap (FVG) support zone sitting between $2,920 and $2,940.

If this support holds firm during corrections, we're likely to see a fresh push toward breaking through that $3,000 barrier. The technical setup here is straightforward: support holds = breakout attempt; support fails = deeper retracement likely.

Traders are watching this price action closely. The way ETH behaves in this $2,920-$2,940 zone will determine the near-term momentum. A bounce from these levels would suggest buyers are active, while a break below could signal weakness.