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Cryptoprowl / Ethereum's (CRYPTO: $ETH ) price has fallen below the key support level of $3,000 U.S, ratcheting up downward pressure and raising the risk of capitulation among cryptocurrency investors.

Analysts say the latest breakdown in Ethereum, the second largest cryptocurrency, marks a shift in market structure as the $3,000 U.S. level now transitions from support into resistance.

ETH is currently trading at $2,958.63 U.S., having declined 11% on the year, including a 5% drop in the last month.

Analysts also say that bearish momentum remains firmly in control across the crypto sector, with Bitcoin's (CRYPTO: $BTC ) price down more than 30% in the past two months.

Many analysts now expect Ethereum's price to fall as low as $2,500 U.S., raising the risk of a capitulation-style move among investors.

The price level of $3,000 U.S. previously acted as a major area of balance and support, where significant trading volume accumulated in Ethereum.

Several recent attempts by ETH to rally and rise back above $3,000 U.S. have failed as the selloff in cryptocurrencies continues unabated.

A growing number of financial institutions, from Wolfe Research to Fidelity Investments, now say that we've entered a "crypto winter" and that prices are likely to remain depressed well into next year.