Can Ethereum maintain its position above $3,000? Uncertainties surrounding ETH recovery

Currently, ETH trades at 2,919 USD, struggling to surpass the $3,000 mark amidst weak on-chain activity and diminished futures demand.

Technical analysis suggests a possible drop to 2,300 USD if critical support levels at 2,800 USD fail. Bearish sentiment is evident in trading, reflecting reduced demand from leveraged investors.