Ethereum price slips below $3K amid $238M ETH ETF outflows

The price has now dropped below the 20-day moving average, a level that previously limited pullbacks, indicating that short-term bullish control is fading. After several weeks of narrow trading, volatility is starting to rise, indicating that the market may be moving into a more active phase.

Momentum indicators support this view. The relative strength index has slipped into the low 40s, showing that momentum is easing, even though its not quite in oversold territory. Should the decline continue, the $2,900–$2,950 range stands out as a key support area, reflecting both previous demand levels and the lower Bollinger Band.

The technical structure would be strengthened and a move toward $3,200 would be made possible by recovering $3,000 and surpassing short-term averages. A clear break below $2,900 on the downside could result in more drops towards the $2,750–$2,800 range before more buying interest emerges.