**Ethereum Price Analysis – Can ETH Hold Above $3000 Despite BTC Price Crash?**

The recent crash in Bitcoin’s (BTC) price was widely expected to drag altcoins lower. However, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, continues to display notable strength. Currently, Ethereum is defending the crucial $3,000 support level, but the question remains: how long can it hold?

### Ethereum’s Struggle to Defend $3,000 Support

Ethereum continues to trade above the $3,000 mark, showing relatively stable price action despite the broader market turbulence. Looking at the daily chart, ETH has formed higher lows over the past week, while repeatedly testing the $3,050–$3,100 zone. This price range has now become an immediate support area to monitor closely.

On the upside, Ethereum’s price faces resistance just below $3,250, where sell orders have successfully absorbed repeated attempts to push higher. At the time of writing, ETH is trading near $3,175, sitting firmly on a key weekly support level within its long-term ascending channel.

### Technical Indicators Signal Potential Moves

The Bollinger Bands for Ethereum are tightening, which signals a volatility squeeze. Such a squeeze often precedes a sharp directional move. Meanwhile, the plunging On-Balance Volume (OBV) indicator suggests weakening buying pressure, increasing the risk that ETH could break down below current support levels.

If Ethereum manages to rebound from these levels, upside targets to watch include $3,540, $3,876, and $4,271. Conversely, failure to hold above $3,175 may drag the price down toward $2,850, which coincides with the lower Bollinger Band and trendline support.

### What’s Next for Ethereum?

Ethereum’s ability to maintain support above $3,000, even amid weakening broader market sentiment, helps keep its medium-term bullish structure intact. The weekly chart shows ETH clinging to this critical zone, with upcoming price action likely to be influenced heavily by volatility around these major technical levels.

A successful rebound could push ETH toward key resistance levels at $3,540 and $3,876. However, a decisive breakdown below $3,175 would signal a shift toward bearish momentum, potentially inviting further declines.

Given Bitcoin’s continuing instability, ETH traders should stay alert for strong reactions around these vital support and resistance zones.

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**Also Read:**
[How Low Can Bitcoin Price Go? Analysts Point to Two Key Levels](#)

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