Ethereum has fallen to $2,816, sliding 3.3% over the past hour, as fresh waves of market uncertainty weigh on major cryptocurrencies.
The decline mirrors Bitcoin’s broader weakness, with ETH now down sharply from its recent attempts to hold the $3,000 level. Market cap has dipped to $339.8 billion, while 24-hour trading volume jumped 25%, indicating elevated activity during the sell-off.
On the chart, ETH shows a clear pattern of lower highs and lower lows over the past three days. Multiple recovery attempts stalled around $3,050–$3,100, forming a repeated resistance zone. The late-session breakdown pushed Ethereum below short-term support at $2,900, with heavy sell volume confirming momentum to the downside.
Retail traders appear increasingly cautious, following deteriorating sentiment across the broader crypto market. The move lower intensified as Bitcoin accelerated its own decline, dragging correlated altcoins with it. With both assets losing key levels almost simultaneously, algorithms and short-term traders added pressure through forced liquidations and defensive selling.
If Ethereum fails to reclaim the $2,900 area, analysts warn that volatility could persist. For now, ETH’s ability to stabilize near $2,800 will determine whether bulls can prevent a deeper retracement.