Ethereum just dipped below the $3000 level, marking a notable pullback for the second-largest cryptocurrency by market cap. The move caught a lot of traders' attention, with many wondering whether this is a temporary correction or the start of a deeper downtrend.

With ETH hitting this price point, some are viewing it as a potential support level to watch closely in the coming sessions. Others are already speculating about whether we'll see further weakness or if bulls might step in to defend these levels.

The broader market context matters here too—volatility remains a constant companion in the crypto space, and one day's sell-off doesn't necessarily signal a reversal. That said, price action around $3000 will be critical for sentiment going forward.