Ethereum (ETH) extended its downward move, slipping below the $3,100 level amid rising market uncertainty. According to market data, ETH is currently trading near $3,090 after recording a decline of approximately 4.7% over the past 24 hours.
Why Psychology Matters More Than Charts :
The pullback comes as broader crypto markets remain under pressure, with traders showing caution following recent volatility. Despite brief intraday recoveries, Ethereum failed to sustain momentum above key resistance levels, leading to renewed selling activity.
Market participants are closely watching whether ETH can hold support near the $3,000 psychological zone, as further weakness could trigger additional short-term downside. However, analysts note that long-term fundamentals remain unchanged, with current price action largely driven by short-term sentiment.
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