Ethereum Price Prediction: Is ETH Doomed After Another Rejection at $3K?

Ethereum remains in a corrective and compressive phase, with price action increasingly tightening between descending resistance and a well-defined demand zone. Both the higher and lower timeframes suggest that ETH is approaching a critical decision point, where directional expansion is likely to follow the current compression.

Ethereum Price Analysis: The Daily Chart

On the daily timeframe, Ethereum continues to trade below a dominant descending trendline that has capped its price since the previous major high. Multiple rejection points along this trendline confirm its technical significance, reinforcing it as a primary dynamic resistance. The asset is also trading below both the 100-day and 200-day moving averages, with the 100-day MA of $3.1K already sloping downward and exerting downward pressure on the price action, while the 200-day MA sits higher and continues to act as a broader trend filter.