Today, Ethereum's price continues to fluctuate weakly, with the price around $2947 at the time of writing. The overall market performance is mixed, with mainstream assets like Bitcoin and XRP rising slightly by about 1%, while Ethereum remains under pressure, becoming one of the few coins that failed to close higher.

Technical analysis indicates that the current market is at a critical decision point. Ethereum's price is striving to defend the key support zone of $2900-$2920. This area is crucial because it forms a potential neckline of a "head and shoulders" bearish pattern. If the price effectively breaks below $2905, this pattern could be confirmed, opening the way down to $2630. Resistance above is clearly around $3300, and only a breakout above this level can reverse the current downtrend.