Ethereum Price Holds Steady Under $3,000 Amid Mixed Market Signals
Ethereum (ETH) traded in a narrow range around $2,945 on May 6, 2025, struggling to push past the psychological $3,000 level. After a week of sideways movement, the market remains on edge as traders await decisive signals about the asset’s next move.
ETH is currently down 1.2% over the past 24 hours, continuing a pattern of low volatility that has defined the month so far. Weekly performance stands nearly flat, with Ethereum posting a modest 0.4% gain over the last seven days.
Trading volume has also tapered off, with 24-hour activity dipping below $12 billion—a significant drop from late April, when ETH frequently saw daily volumes surpassing $20 billion. This decline in volume often suggests uncertainty, as traders hesitate to take strong directional positions.
On-chain metrics also reflect the lull. Data from Glassnode shows that active addresses and daily transaction counts are slightly down from last week, while ETH’s exchange balances remain stable. This indicates that while there’s no panic selling, fresh demand is also limited.
Analysts remain divided on Ethereum’s short-term direction. Some expect a breakout toward $3,300 if ETH closes above key resistance around $3,050. Others warn that failure to gain momentum could send the price back to support near $2,800, particularly if Bitcoin shows weakness.
Long-term sentiment remains more optimistic, driven by expectations surrounding Ethereum’s next major upgrade, which could improve transaction efficiency and scalability. However, until a clear catalyst appears, Ethereum seems locked in consolidation mode.
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