Ethereum News Today: ETH Dips Below $3K Despite Blackrock's Staked ETH ETF Filing

Key TakeawaysETH price weakness continues, falling 1.49% to $2,985.21 as selling pressure intensifiesInstitutional outflows grow, including a 10,922 ETH corporate liquidationTechnical resistance at $3,170 remains unbroken as moving averages trend lowerETH Faces Persistent Pressure as Reversal Signals FailEthereum has attempted multiple rebounds this month, but each move ran into the same barrier at $3,170, where a major supply cluster sits. A bullish divergence formed on RSI between Nov. 4 and Nov. 19, but it failed—mirroring an earlier failed divergence from Nov. 4–17. Technical Structure Weakens as Key Levels BreakAll major moving averages on 10d, 20d, 30d, 50d, 100d, and 200d timeframes are trending above price—reflecting persistent downside momentum.Source: TradingViewETH remains below every major trend indicator shown.Current technical indicators:ETH still trades inside a descending channel, rejecting the 0.382 Fibonacci level at $3,170.Momentum remains weak, with RSI14 at 33.5 and MACD histogram at -21.13.A break and daily close above $3,170 is required to shift trend confidence. ETH Outlook: Key Levels to WatchFor ETH to stabilize, three conditions are key:Reclaiming $3,170, the structural pivot for the ongoing downtrendA shift in institutional flows, especially ETH ETFs and corporate treasuriesReduced long-term holder outflows and stabilization near $2,900, a prior accumulation zone