The current market situation is like waiting for a signal. Whether the market can truly break out of the predicament ultimately depends on time and volatility. As long as the bearish forces remain strong enough, sell-offs will continue, but no one can predict how long this situation will last.

Interestingly, when XRP and Solana both hit their long-term support levels, the chances of a rebound are higher than most people think. The previously pessimistic expectations might be proven wrong, and the market could regain vitality faster than expected, even turning upward directly near these key price levels.

**Ethereum at a Crossroads**

Recently, more and more people in the community have noticed a detail: Ethereum is approaching a critical threshold on its long-term chart. The $3000 line is not just a random number; it is a structural watershed that truly determines Ethereum’s future—whether it continues to surge or falls into repeated consolidation, it all depends on this.

Currently, Ethereum is oscillating around the mid-range of $2900, still below $3000 after a year of fluctuations. The momentum from the impressive rally at the beginning of the year has already softened, but the decline has been relatively mild, without a bloodbath crash. This is very important. The 200-week moving average remains above the price and continues to trend higher, indicating that Ethereum’s trading price still firmly stays above long-term support.

This is definitely not a bear market signal. From a technical perspective, the $3000 level is both a resistance and a validation point—breaking through it would attract capital rotation from Bitcoin ETF allocations and trend traders; falling below it would cause Ethereum to enter weeks or even longer periods of range-bound consolidation, making it difficult to find renewed momentum historically. Because of this, positioning around the $3000 level is particularly critical.