Market Overview
Ethereum (ETH) has dropped sharply to $3,181, plunging nearly 12% in the past 24 hours as the broader crypto market faces heavy liquidation and risk-off sentiment. This marks Ethereum’s lowest level since July 2025, wiping billions from its market capitalization and pushing the total below $384 billion.
Trading volume surged 28% to $66.2 billion, signaling intense selling activity across major exchanges. The steep decline follows Bitcoin’s break below $100,000, which triggered a cascading sell-off in altcoins and led to widespread liquidation across the derivatives market.
Technical Breakdown and Market Signals
Ethereum’s slide below $3,200 confirms a strong bearish continuation. The MACD histogram at -12.59 indicates accelerating downside momentum, while daily RSI readings approach oversold territory. Analysts point to $3,000 as the next major psychological and technical support level, a zone that coincides with the July 2025 local bottom.
If Ethereum fails to hold this level, traders warn of potential extensions toward $2,850–$2,900, though a short-term relief bounce could occur if oversold conditions trigger dip-buying interest.
- •Ethereum plunged 12% in 24 hours, falling below $3,200 and hitting its lowest level since July 2025.
- •The MACD histogram (-12.59) shows accelerating bearish momentum, with the next key support around $3,000.
Broader Market Context
The decline in ETH mirrors a market-wide capitulation. Over $250 billion has been wiped from the total crypto market cap in 24 hours, and altcoins have been hit hardest, with many top tokens down between 7–12%.
Bitcoin’s dominance has climbed back to 59%, underscoring the shift toward defensive positioning as investors retreat from riskier assets. Ethereum’s double-digit loss also follows heightened anxiety over upcoming U.S. CPI inflation data and renewed ETF outflows.
Related News
Outlook
Ethereum now sits at a critical juncture. Bulls must defend the $3,000 support to prevent a deeper breakdown, while bears are watching for confirmation of a daily close below $3,150, which could accelerate further selling.
For now, Ethereum remains under heavy pressure, and with Bitcoin below six figures, sentiment across the entire crypto market has turned decisively bearish heading into mid-November.