Ethereum Sheds 5% Amid Market Pullback, Raising Risks of Deeper Correction

Overview

Ethereum has experienced a significant price decline, failing to maintain levels above $3,350. The cryptocurrency is down over 5%, indicating a potential struggle for recovery in the near term, as it faces key resistance levels.

Price Movement and Analysis

Ethereum began its recent decline after failing to hold above the $3,500 mark. As the price dipped below $3,350, it entered a short-term bearish zone. The decline continued, with a low recorded at $3,153. Following this drop, there has been a minor correction, but Ethereum remains below the 100-hourly Simple Moving Average.

Currently, Ethereum is trading below the $3,350 level, facing resistance at this point as well as at the $3,500 mark. A bearish trend line is forming, indicating further challenges for the price, especially if it fails to break above these resistance levels. If Ethereum manages to recover, it may encounter resistance near $3,300 and $3,350, with the first major resistance identified at $3,500.

On the downside, initial support is located near the $3,200 level, with the first major support at $3,150. If the price drops below this support, it could lead to further declines, potentially reaching the $3,050 level and lower.

Technical Indicators

• Hourly MACD: The MACD for ETH/USD is gaining momentum in the bearish zone.
• Hourly RSI: The RSI for ETH/USD is now below the 50 zone.

Impact on the crypto market

• Ethereum’s decline reflects broader market trends and could influence investor sentiment.
• The inability to recover above key resistance levels may lead to increased selling pressure.
• A continued drop below major support levels could signal further bearish trends in the market.
• Market participants will be closely monitoring Ethereum’s price movements for potential trading opportunities.

Updated: 11/14/2025, 4:28:06 AM