The crypto market is in freefall, and Ethereum is one of the hardest hit.
Following Bitcoin’s sharp decline under $100K, $ETH plunged over 13% in a single day, wiping out weeks of gains and reigniting fears of a deeper bear trend.
$Ethereum crashed from around $3,600 to nearly $3,100, breaking several key support zones. The 200-day SMA at $3,370 has been breached, confirming a bearish trend continuation.
ETH/USD 1-day chart - TradingView
RSI has dropped to 43, indicating rising selling pressure but not yet fully oversold.
MACD remains in negative territory, with widening divergence — a clear sign that momentum is still heavily bearish.
Bitcoin’s breakdown below $100K acted like a domino effect across all markets.
Ethereum, BNB, Solana, Cardano, and Dogecoin all saw steep declines as liquidations exceeded $100 billion in 24h trading volume across top exchanges.
Solana dropped 23%, Cardano lost 21%, and BNB tumbled nearly 10%.
The entire crypto market capitalization has now fallen below $3.6 trillion.
If Ethereum fails to hold above the $3,000 mark, the next strong supports lie at $2,730 and $2,400.
A rebound may occur if BTC finds stability near $100K, potentially sending ETH back toward $3,500.
However, sentiment remains extremely bearish — and any short-term rally could face resistance near the $3,370–$3,800 range.
Both $Bitcoin and $Ethereum have entered dangerous territory.
While the RSI readings suggest short-term exhaustion among sellers, macro factors — including liquidations, investor fear, and risk-off sentiment — continue to weigh on the market.
Until $BTC reclaims $106K or $ETH climbs above $3,500, the crypto correction is far from over.
