Ethereum’s price is testing the 100-day moving average at 3,100 USD amid bearish pressure. If ETH stays above this support, a bullish rebound is possible. However, a drop below could lead to targeting 2,500 USD as the next support level, posing a risk of further price decline.

Funding Rates reflect mixed sentiments; initial bullish signs have faded with declining rates. A critical support at 3,000 USD remains essential for ETH’s stability. Failing to defend this level may result in increased selling and a deepened correction.