Ethereum Tests $3,049 Support Level, Key Rebound at Stake
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 03 2026- Critical Support Testing: Ethereum is currently testing the $3,049 support level after facing strong selling pressure at $3,143, and a break below this level could lead to a decline towards the $2,944 to $2,928 support zone, potentially impacting investor confidence and market sentiment.
- Price Volatility Analysis: Over the past 24 hours, Ethereum's price has dropped by over 1%, yet it remains approximately 6% higher compared to the past week, indicating that short-term volatility may affect the stability of long-term trends.
- Rebound Demand: Bulls need to push the price above $3,300 to regain control of the higher timeframe trend, as the current price remains below the 200-day EMA at $3,357, suggesting ongoing pressure on the long-term trend.
- Support Range Focus: If the $3,049 support level fails, the market may refocus on the major support zone at $2,600, which has acted as a floor multiple times over the past two months, and a break below this level could trigger a more significant market adjustment.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
