- ETH rejected from the $2,140 POC and EQ, reinforcing bearish momentum.
- Current price around $2,015 shows recovery but remains below resistance.
- A breakdown under $1,900 could accelerate downside toward $1,700.
The volatile world of cryptocurrency, Ethereum (ETH) continues to capture attention with its recent price movements. Prominent crypto analyst CryptoTony recently shared an update on X, highlighting a significant rejection from key technical levels in the ETH/USD pair. The 4-hour chart from Coinbase illustrates a sharp decline, with ETH dropping from highs near $2,500 in late January to around $1,983, marking a 1.51% decrease in the session captured.
Current Price Action and Market Context
The chart prominently features a horizontal line at approximately $2,140 labeled as the Point of Control (POC), a volume profile indicator representing the price level with the highest trading activity over a given period. Additionally, the Equilibrium (EQ), often considered the midpoint of the trading range, aligns closely with this level. According to CryptoTony, “We rejected from the range POC and EQ. So today we are effectively bearish while below.” This rejection suggests sellers are in control, preventing a bullish breakout and pushing prices lower.
This bearish sentiment echoes broader market dynamics. Ethereum, the second-largest cryptocurrency by market cap, has been navigating a consolidation phase amid global economic uncertainties. As of March 3, 2026, ETH is trading at about $2,015 USD, reflecting a 3.29% increase over the last 24 hours but still below the critical resistance. This slight rebound could be attributed to short-term buying interest, yet the failure to reclaim the POC indicates potential for further downside if support levels around $1,900 give way.
Risk Management in a Bearish Environment
Traders are closely monitoring upcoming U.S. events marked on the chart, including potential economic data releases or policy announcements in early March, symbolized by flag icons. These could amplify volatility, especially in a market sensitive to interest rate expectations and regulatory developments in the Web3 space.
For investors, this scenario underscores the importance of risk management. While Ethereum’s fundamentals remain strong—with ongoing upgrades like sharding aimed at improving scalability—the short-term technical picture favors caution. Bulls would need a decisive close above $2,140 to shift the bias, potentially targeting $2,300. Conversely, a break below $1,900 might accelerate selling toward $1,700.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
