ETH’s Sharp Drop Scaring You? Don’t Rush to Cut Losses! 2950 and 3120 Are the Two Critical Numbers

Question

My inbox has been exploding these past two days: “Hey, is ETH going to keep dropping?” “I’m stuck at the 3k range, should I cut losses or hold?” After hearing this, I just want to say it straight: This isn’t a crash for you to panic about. This is the sharks’ last “chokehold” before picking a major direction! If your hands are trembling and you’re thinking of hitting the sell button, stay calm and read this through.

Conclusion first to ease your mind: ETH is at the tail end of its downtrend – big money is quietly accumulating – waiting to break out. And 2950 / 3120 are the “two critical milestones.” Break above 3120 → Trend reversal upward. Break below 2950 → Back to a deeper accumulation zone. Remember these two numbers—they’re more useful than watching 100 indicators.

Don’t Let a “Fake” Drop Scare You: Sharks Are Acting, This Isn’t a Market Crash Anyone looking at the chart sees red candles, price slipping step by step. But what I’m watching isn’t the price, it’s the declining momentum. If it were a real crash, the MACD would fan out wide, volume would explode, and red candles would “crush” every rebound. But what’s happening now? Price is dropping → correct. MACD narrowing → weakening momentum. Volume decreasing → no real selling pressure. “Breakdowns” → all fake breaks, followed by rebounds. This is the classic formula for accumulation: Force price down → force sentiment down → force stop-losses → accumulate cheap.

To be blunt: ETH is being suppressed, not really sold off.

ETH Isn’t at Fault — It’s Just “Following BTC” Looking at capital flows over the past 2 weeks, one thing is clear: BTC has shown signs of stopping its decline: multiple wicks, light inflows. ETH is being ignored, money is steadily flowing out, with no independent rebound. ETH now is just like a kid tied with a rope to BTC: wherever BTC goes → it’s forced to follow. And typically, ETH exaggerates BTC’s direction: BTC surges → ETH surges more. BTC drops further → only then does ETH really drop hard. What you’re seeing now is ETH’s “going through the motions” decline, not a real trend-driven drop.

Shark Traces: Two Super Long Wicks in the 2920–2980 Range This is what serious traders should be watching. A sweep down to 2920 then a 60-point reversal. Another dip to 2935, then a bounce of over 50 points. Two eerily similar patterns: Break support – sweep stops – accumulate – push up. Retail traders can’t pull this off. Only big players have enough power to “dump fast – pull hard” like this. Their formula is all too familiar: Break support → force retail stop-losses. Bounce back quickly → snap up all stop-loss orders. Hold price sideways → discourage everyone. When people give up → launch the move. If you’ve been trading for years, you’ll recognize: This is the behavior right before a major breakout.

Practical Trading Guide (I Use Daily, No Fluff)

Defensive buying zone: 2950–2990 This is currently the strongest support zone. Matches three stop-loss sweeps. Matches the shark accumulation zone. Matches medium-term support. Strategy: → Split buys at 2970–2990 → Mandatory stop-loss below 2900 ( Break below 2900 → exit immediately, no debate.
Strategic short zone Light short at: 3120–3160 If ETH reaches this zone and gets rejected → highly likely just a technical bounce, not a reversal. → Light short, TP at 3020 → 2950. Accelerate short if: breaks below 2900 At that point, the downtrend is truly confirmed. Target: 2720 – 2610.

Conclusion: ETH Isn’t Crashing – It’s Just Being Set Up for a Major Breakout The market is in the “calm before the storm.” Those losing money now are the impatient ones. Those with the edge are the ones who understand the sharks’ game. The more scared you are, the easier it is for them to accumulate. Stay strong, watch these two key levels: ➡️ 2950 – 3120 Just act according to them—don’t let emotions guide you.