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.
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.
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 dataand renewed ETF outflows.
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.
