Ethereum price analysis (Neutral) — 3010.01 USDT (-0.57% 24h)

Ethereum faces a critical technical juncture as ETH/USDT hovers at $3,010, showing slight bearish pressure with a 0.57% decline over 24 hours. The current price sits just below the 20-day SMA ($3,014.93) while holding above the 50-day SMA ($3,001.16), indicating potential support formation. With RSI at 46.1, ETH remains in neutral territory but leaning toward oversold conditions, suggesting limited downside momentum. The $3,000 psychological level appears to be acting as strong support, while resistance looms near $3,015. Trading volume remains robust at $715 million, indicating sustained institutional interest despite the minor pullback. Traders should watch for a decisive break above $3,020 to confirm bullish momentum, while a breakdown below $2,990 could trigger further selling. Consider accumulating near current levels with tight stop-losses, as the consolidation phase appears to be building energy for the next significant move.