Can ETH price stay above $3,000?

According to analysis by leading expert Ted Pillows, Ethereum (ETH) needs to maintain an upward momentum above $3,000 to avoid the risk of a deep decline to the key support zone at $2,800. At present, the largest altcoin in the market is hovering slightly above $3,000, in the context of Bitmine recently executing a deal to purchase an additional $199 million ETH for its reserves.

ETH Price Chart | Source: CoinphotonOn a broader scale, investor sentiment remains quite cautious as the Crypto Fear & Greed Index records a high level of fear, reaching only 22 points. Many experts believe that the main reason comes from the wave of capital outflows from institutional investment products, especially Bitcoin ETFs (BTC) with total withdrawals reaching $2.7 billion since November.

Ethereum: Holding $3,000 or Facing the Risk of a Deep Decline?

According to Ted Pillows’ forecast, ETH needs to stay stable above the $3,000 level to maintain its position in the market. If it cannot hold this threshold, it may lose psychological momentum and slip toward the strong support area around $2,800. The expert commented that $3,000 remains a critical “fortress” for ETH buyers.

As both an analyst and trader, Ted Pillows emphasized that buyers need to generate enough momentum for the price to break through the “sell wall” in the $3,100 – $3,300 range. Any move past this key point could open up a significant turning point for ETH—the leading altcoin by market capitalization.

Over the past weekend, ETH maintained stability around $3,031, trading within a narrow range. Buyers are pushing to break the $3,100 resistance; if successful, this could turn the $3,300 zone into a solid support.

On the technical indicators side, the MACD has just flashed a bearish crossover, indicating increasing selling pressure. Meanwhile, the RSI stands at 46, below the neutral 50, reflecting that buying strength is still not strong enough.

Bitmine Continues to Accumulate ETH

Bitmine, under the leadership of Chairman Tom Lee, has just made a major move, purchasing an additional 22,676 ETH worth $68.7 million. Within just 24 hours, the total ETH held by the company rose to 64,622, with a total value of nearly $200 million.

The latest batch of ETH was transferred from BitGo’s hot wallet to Bitmine’s private wallet just a few hours ago. Despite significant price volatility in Ethereum recently, this large-scale purchase demonstrates Bitmine’s strong confidence in ETH’s long-term prospects.

Source: XThe continuous increase in ETH holdings also highlights Bitmine’s prominent position in the crypto market. Previously, on Wednesday, the company spent $150 million to acquire more Ethereum, contributing to Bitmine’s stock posting double-digit gains.

This move comes right after the Ethereum network completed the Fusaka upgrade—the second major upgrade of the year. Backed by Peter Thiel’s Founders Fund and Cathie Wood’s ARK, Bitmine stated it is “accelerating its accumulation of Ethereum” to seize new opportunities ahead of the upgrade.

The company aims to strengthen the Ethereum network valued at $385 billion and is ready to capture development opportunities in the near future.

Mr. Giao