After a time of staying steady and some small drops in value, Ethereum's price is facing more selling. It's slowly going down toward a key point called the 100-day moving average.

The big question now is if Ethereum's price will fall below this important moving average.

Looking at the technical side, after some time of going down, Ethereum's price tried to go up to $3.2K but faced a lot of selling. Now, it's at a crucial point, testing the 100-day moving average at $3086. This spot is important because it usually gets a lot of people wanting to buy, which might stop it from dropping more because of sellers.

But with how things are going now and how the price has been acting, it seems like there's not enough power to push it up and get people to buy more, making it more likely to keep going down for a while. However, if it does go below this important spot, it could start a chain reaction leading it to $2.5K.

Looking at a closer timeframe, Ethereum's price was stuck in a pattern and near $3K, then suddenly more people wanted to buy, pushing it up. This made it go up a lot to a point where it met strong selling at around $3.3K. But now, sellers are in control again, making it look like it might go down more. Still, it's expected to stay between $2.8K and $3.3K until something changes.

Checking how people feel about Ethereum, since it couldn't go past $3.7K, it's interesting to see what futures traders are doing. Looking at a special chart, it shows that not only are buyers not being more aggressive than sellers, but they're actually becoming less aggressive. This downward trend is worrying and suggests Ethereum might keep going down for a while if things stay the same.

In conclusion, Ethereum's price is at a critical point, and if it can't get more people to buy soon, it might keep going down, especially if it falls below $3K.