<ul><li>Ethereum's price action has encountered significant resistance at the $3K region, which coincides with the 200-day moving average.</li><li>The likelihood of a rejection at this resistance level is high, potentially leading to a decline towards the $2.5K support level.</li><li>On the 4-hour chart, Ethereum's recent bullish retracement faces a key resistance zone, making it challenging to break higher.</li><li>The recent Bybit hack and declining funding rates suggest increased selling pressure and the possibility of further declines towards $2.5K.</li></ul>

Will Weak Momentum Drive ETH to $2.5K? (Ethereum Price Analysis)

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