The cryptocurrency market has seen significant upheaval recently, with Ethereum’s price plummeting to $3,830—a nearly 9% drop in just 24 hours. This downtrend coincides with Bitcoin’s decline to nearly $108,000, leaving many market analysts questioning the resilience of various altcoins, including XRP, Solana, and BNB.
Ethereum Price Experiences Sudden Drop Amid Technical Signals
Ethereum’s value has plummeted as market volatility escalates, reaching $3,830 at the time of reporting. Having traded above $4,760 earlier in the month, the coin has now faced a 9% decline in the past 24 hours and a 16% drop for the week, pushing it to a critical threshold.
The broader market weakness has also affected Bitcoin, which is trading close to $108,000, while leading altcoins struggle to maintain their positions. This scenario may lead to a further drop in Ethereum’s price, potentially reaching as low as $3,500 in the short term.
As this latest downturn unfolds, Ethereum has slipped below the $3,850 mark. Analysts suggest that should bullish momentum return, reclaiming a price above $3,860 may guide the asset towards the $4,000 level. However, a critical break in the On-Balance Volume (OBV) indicator raises concerns about further losses.
Per crypto analyst IncomeSharks, the Ethereum price trajectory shows a decline as momentum indicators weaken. Although horizontal support remains intact, the declining buying pressure does not bode well for short-term prospects.
$ETH – Can’t spin this as being bullish, a pretty clear OBV breakdown. Still haven’t lost horizontal support but it seems to have lost momentum. pic.twitter.com/D1ONHhvCZx
— IncomeSharks (@IncomeSharks) September 25, 2025
On the weekly chart, Ethereum’s price now sits below a significant level where sellers may target support around $3,500. Notably, both the weekly Relative Strength Index (RSI) and OBV are trending downwards.
Despite this, the RSI remains above 55, indicating that bullish traders still have room to maneuver amidst the bearish pressure. Furthermore, the daily RSI situates Ethereum in oversold territory, suggesting a potential exhaustion of downward momentum.
Major Altcoins Hit Critical Support Levels
The decline in Ethereum’s price is part of a broader market correction, where several leading altcoins have also breached critical support levels. Following the pattern, Bitcoin has dipped to nearly $108,000, while Ethereum fell to an intraday low near $3,800, triggering selling across other altcoins such as XRP, Solana (SOL), and Binance Coin (BNB).
In particular, XRP dropped 6% to $2.78 due to a break in its downward trend line, while Solana, after a brief rally, has corrected to fall below the $200 mark. The price for SOL currently sits at approximately $197 following a 7% decline in the past 24 hours.
Meanwhile, amidst significant profit-taking, Binance Coin has faced resistance after reaching new all-time highs above $1,000 and is currently trading around $964, which constitutes a 5% decrease in the last 24 hours.
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