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Ethereum has been stuck the past couple of days. It just couldn't break back above the $3000 mark.
Currently, ETH is fluctuating around $2940, just a hair away from breaking below a key support level. Investors' nerves are also tightening — if it can't hold this level before the weekend, a new wave of decline might be imminent.
**Analysts' warning is straightforward: it may still fall to $2800**
Some analysts on social media pointed out that if Ethereum can't stay above $3000, it is highly likely to retest around $2800 in the short term. This means there's nearly a 5% drop waiting.
This isn't surprising. Since the beginning of the month, ETH has already declined by 16%. Every attempt to break through key levels has failed, making the overall structure weaker and weaker.
**Why can't Ethereum outperform Bitcoin?**
Some try to find answers from a technical perspective. The key finding is: ETH's price has been operating below the volume-weighted average price, meaning it can't break through this core indicator.
What’s more painful is that the rebound from $2800–$2850 also seems weak — more like a forced rally rather than active capital intervention. Such passive rebounds are hard to sustain, and risks are brewing.