Ethereum's recent performance is indeed a bit frustrating. The price has been repeatedly testing the $3000 level, consolidating sideways with little progress, and it seems the bulls are starting to tire. On the technical side, the downward trend line has been pressing down on it, and every attempt to push higher has been pushed back, indicating that sellers still hold the pricing power.

The key issue is that once it breaks below the $2800 line, there may be little to stop it from falling further. According to this logic, key levels at $2600, and even $2000, could be tested. The current market sentiment is cautious, trading activity is moderate, and there are no strong rebound signals in the short term. From a structural perspective, this looks more like a correction phase rather than the restart of a bull market.