Ethereum Price Closes On $3k as Buterin Pushes for Stronger Decentralization After Cloudflare Outage

The Ethereum price has edged slightly higher to trade at $2,988 on a 34% plunge in the daily trading volume to $10.56 billion.

This is as Ethereum co-founder Vitalik Buterin renews calls for stronger decentralization across the crypto ecosystem, arguing that decentralized applications (DApps) could reduce the internet’s reliance on centralized infrastructure providers.

His comments followed a major Cloudflare outage in November that temporarily knocked offline about 20% of websites, including several major crypto platforms.

In a post on X, Buterin said Ethereum must do more to achieve its vision of becoming a “world computer” that underpins a freer and more open internet. He emphasized that DApps should operate without censorship, fraud, or third-party interference, remaining functional even if large service providers suffer outages or security breaches.

Buterin Warns of Centralization Drift

The Cloudflare disruption, caused by a software failure in its bot management system, echoed a similar outage at Amazon Web Services earlier in the year. Together, the incidents raised concerns about the crypto industry’s continued dependence on centralized web infrastructure.

Buterin and Ethereum Foundation researchers warned that decentralization often erodes through convenience rather than force, gradually pushing systems back toward trusted intermediaries.

Separately, Buterin has also proposed exploring a trustless on-chain gas futures market to help users manage and predict Ethereum transaction fees more effectively.

Ethereum Price Analysis: Descending Channel Signals Potential Rebound Toward $3,500

The Ethereum price is trading at $2,987 after bouncing from recent lows, showing early signs of stabilization on the daily chart. While the broader trend remains corrective, the latest price action suggests sellers are losing momentum.

ETH is still moving inside a descending channel, which has been in place since September. This pattern shows lower highs and lower lows, reflecting ongoing bearish pressure. However, price recently bounced from the lower boundary of the channel around the $2,700–$2,800 support zone, an area that has attracted buyers in the past.

ETHUSD Chart Analysis Source: Tradingview

The key level to watch now is $3,000, a strong psychological and technical barrier. A daily close above this level would improve short-term sentiment and could allow ETH to move toward the next resistance area around $3,400–$3,500, which sits near the middle of the descending channel. This zone previously acted as a consolidation and may attract sellers again.

On the downside, if ETH fails to hold above $2,900, selling pressure could return. A breakdown below $2,700 would weaken the rebound outlook and open the door for a deeper pullback toward the $2,400 region.

The RSI (14) is currently near 49, indicating neutral momentum. This suggests selling pressure is fading, but buyers have not yet taken full control. A move above 55 on the RSI would support a stronger recovery.

Trading volume remains relatively low, showing that the rebound is still cautious. For a sustained rally, ETH needs higher volume and a clear break above resistance.