Ethereum (CRYPTO:ETH) faces a downward trajectory as it slips below key support levels, signaling potential for a fall below $3,000.

With over 96% of ETH supply in profit and consistent selling pressure, market top conditions suggest an imminent correction.

The failure to sustain $3,500 as a support floor underscores investor profit-taking, amplifying bearish sentiment.

As selling pressure persists and ETH supply on exchanges rises, the likelihood of further drawdown increases.

Should ETH fail to hold $3,031 as support, a drop below $3,000 becomes probable, marking a significant downturn in Ethereum's price trajectory.