REDOWAN154

ETH is trading around $2,930–$2,935 after a sharp drop from ~$3,025 earlier in the session.
We just broke down from a small consolidation/range that had been forming between roughly $2,950 – $3,000 over the past few hours.
The move down was on decent volume (tall red candles), suggesting conviction on the sell side for now.
Key levels to watch right now:
Resistance (above):
$2,950 – immediate former support, now likely resistance
$2,975 – next minor hurdle
$3,000 – big psychological + previous range low
Support (below):
$2,900 – round number + potential next stop
$2,875 – prior local low
$2,850 – stronger support zone (multiple touches in recent days)
$2,800 – major support if we continue lower
Current bias (short-term): Bearish as long as price stays below $2,950–$2,960. The break lower looks impulsive, so we could see follow-through toward $2,875–$2,900 fairly quickly unless buyers step in aggressively.
Possible scenarios:
Bearish continuation → retest $2,875 or lower ($2,850 area) if $2,900 fails to hold.
Bounce/rejection → if bulls defend $2,900 and we get a strong green candle back above $2,950, the breakdown could turn into a bull trap and we reclaim $3,000 relatively fast.
Context (November 26, 2025): Ethereum has been under pressure along with the broader crypto market after the post-election pump in early November faded. Bitcoin is also weak today (hovering around $92–93k last I saw), so ETH/BTC ratio is fairly stable — this move is mostly USD-driven rather than Ethereum-specific underperformance.
Bottom line: Right now the chart leans bearish on the 15-minute and 1-hour timeframes. Watch $2,900 for near-term direction; a clean break and close below opens up $2,850 quite fast.