Ethereum (ETH) has come under pressure this week, dropping to under $3,200 during yesterday’s market-wide sell-off. The asset is down over 6% in the last 24 hours and more than 17% in the past seven days, based on data from CoinGecko.
After a strong run earlier this year, the latest move brings ETH back to key technical levels.
The ETH/BTC chart shows the pair returning to an area marked by past buying. Analyst Michaël van de Poppe pointed out that the price has pulled back more than expected, but still sits in a zone where accumulation has happened before. He said,
“A little deeper than expected on ETH, but this is still the level that I think is wise to look for potential accumulations.”
ETH/BTC is now trading near 0.0326 BTC, a zone that lines up with previous consolidation. This level acted as resistance earlier in 2025 and could now serve as support.
Meanwhile, technical indicators show mixed signals. Weekly RSI is still above oversold territory. On the daily chart, the Stochastic RSI is deep in the oversold range. That suggests the recent selling may be slowing. The MACD is still negative, but the histogram is showing smaller red bars, which may point to weakening downside pressure.
Analyst Kamran Asghar shared that ETH is now testing a trendline that has held since 2022. The asset has bounced from this level multiple times over the last two years. So far, the trend remains intact.
Ali Martinez shared one scenario where ETH could push higher in steps — first holding above $3,800, then reclaiming $4,900, and eventually targeting $8,000. His chart shows potential pauses around $5,600, $6,400, and $7,200.
If the price gets rejected at that range, another move toward $2,800 may follow. At this point, Ethereum is sitting at an important zone. Buyers and sellers are watching closely to see if this level holds — or if the downtrend continues.
