ETH falls to 4-month low under $3K: Is the bull market over?

💡 DMK Insight

ETH just dipped below $3,000, and here’s why that matters: this level has been a psychological barrier since July, and breaking it could trigger further selling pressure. Traders should keep an eye on the $2,900 support level; if that breaks, we might see a cascade effect leading to a test of $2,700. The broader market context shows that Ethereum’s recent price action is tied to macroeconomic factors, including inflation data and Fed interest rate decisions. If these indicators remain unfavorable, ETH could struggle to regain its footing. On the flip side, if ETH can reclaim the $3,100 level, it might signal a bullish reversal, but that seems like a tall order given the current sentiment. Watch for volume spikes around these key levels to gauge market strength or weakness.