Ethereum at risk of falling below $3,000 as sell-side pressure and bearish derivatives build

Beincrypto reports that Ethereum is showing rising sell-side pressure that threatens a drop below $3,000. The token has rolled over after failing to hold above key resistance, and price action has put a bearish structure back in play.

On-chain data shows long-term holders remain in accumulation, with the HODLer Net Position Change printing steady green bars since late December. But derivatives and flow metrics are worrying: futures positioning is heavily skewed short, with over 83% of open exposure bearish, and a push into the $3,000 area could trigger roughly $368 million in long liquidations. The Money Flow Index has slipped below the 50 midline, buying pressure has faded, and ETH was trading near $3,109 at the time of writing. A developing 12-hour double top projects about a 7.5% decline toward $2,900 if the $3,085 support breaks decisively.

A bullish reversal remains possible if long-term holders maintain control — a successful bounce from $3,085 could restore confidence and lift ETH toward $3,287, which would invalidate the bearish case. Otherwise, selling could intensify once ETH slips below the $3,000 psychological level, where liquidation risk rises sharply and bullish defenses weaken.

Key Topics

Crypto, Ethereum, Long-term Holders, Futures Positioning, Long Liquidations, Money Flow Index