Ethereum Tests $2,875 Support Level Amid 11% Weekly Decline

Ethereum is trading at $3,200 after declining 11% over the past week. Technical analysts have identified $2,875 as a critical support threshold that could determine whether the asset rallies toward $5,000 or retreats to the $2,250–$2,620 range. The level aligns with key Fibonacci retracement zones and an unfilled Fair Value Gap from prior upward movements.