After a volatile week in which it failed to recover and lost momentum, Ethereum price has slipped deeper into correction territory and is once again showing signs of stress.
summary
- Ethereum price fell nearly 7% in 24 hours and 12% over the past week, erasing recent gains.
- The token is currently trading around $3,773, about 15% below last month’s levels, indicating growing weakness.
- The support level at $3,800 is critical; a weekly close below it risks a fall towards $3,450-$3,500, where there is more liquidity and pre-buying interest.
- A rally above $3,800 and $4,250 would require fresh demand from institutional investors and strong ETF inflows to shift momentum back to the bulls.
Ethereum's recent decline took the token trading to $3,773, down nearly 7% on the day and more than 12% for the week, according to data from crypto.news.
Sustained downward pressure has erased short-term gains and ETH is down more than 15% from its price a month ago, confirming that market weakness is deepening.
Last week’s sharp market selloff set the tone for the token’s decline, with it briefly falling below $3,500, but a quick rebound over the weekend brought Ethereum (ETH) back to resistance just above $4,250. This level has formed an important technical indicator since August, acting as a major support during the rally and as a severe resistance during the recent correction.
ETH recovered to $4,250 after the crash, but was hit by intense selling pressure. Technical indicators indicate continued market fatigue and a lack of bullish conviction.
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With sellers in control and momentum indicators flashing, ETH could be headed for an even deeper correction towards $3,500, a level that is crucial for short- and medium-term price movements.
Ethereum price outlook
ETH is currently located just below a key weekly support level that has repeatedly shaped its price movement in recent months. At higher time frame levels like this, prices often move through them intraday, but a weekly close below $3,800 increases the risk of this support turning into resistance, setting a new hurdle for the bulls.
Ethereum price chart |Source: TradingView
If ETH ends the week below $3,800, traders will likely set their sights on $3,450, where earlier aggressive buying triggered a sharp rally. Conversely, a weekly close above $3,800 would reignite bullish expectations. ETH could then target a new target at $4,250, an area that has consistently served as a major resistance level since August.
Technological momentum alone will not be enough to overcome this barrier. Heavy and visible buying from institutional investors, corporate ETH treasuries, and solid ETF inflows will be the essential catalyst. Without these supporting forces, ETH's outlook remains fragile, with more and more $3,500 funds.
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