- Ethereum fell to $3,830 on Thursday, dropping almost 9% in 24 hours as Bitcoin plunged toward roughly $108,000.
- Crypto analysts IncomeSharks highlighted Ethereum’s price weakness amid a breakdown in the On-Balance Volume (OBV) indicator.
- XRP, Solana and BNB also slipped to or below key levels as the broader crypto market tumbled.
Ethereum (ETH) experienced notable volatility over the past week, extending losses in the last 24 hours and pushing the token to a low of $3,830.
After trading above $4,760 earlier this month, ETH has declined roughly 9% over the past day and about 16% for the week, leaving the asset hovering around important technical levels.
The broader weakness affecting Bitcoin near $108,000 and leading altcoins struggling could align with technical breakdowns that see Ethereum fall toward $3,500 in the short term.
Ethereum plunges nearly 9% as a key indicator signals a breakdown
Recent market pressure left Ethereum trading below $3,850 at the time of writing.
While a recovery could reclaim the region above $3,860 and test $4,000, analysts point to a critical break in the On-Balance Volume (OBV) indicator as a potential sign of further downside.
As highlighted by crypto analysts IncomeSharks on X, ETH’s price has slipped amid an OBV momentum breakdown.
The indicator, which tracks cumulative volume flow, shows a clear divergence from price action. IncomeSharks noted that even though horizontal support remains intact, the loss of buying pressure suggests weakening momentum.
According to the analysts, the waning momentum points to a bearish outlook.
$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
Pushing the weekly chart into a more concerning area, sellers could target support around $3,500 if the downside intensifies.
Both the weekly Relative Strength Index (RSI) and OBV have declined.
The weekly RSI remains above 55, indicating there is still room for bulls to counteract downward pressure.
Notably, the daily RSI places Ethereum in oversold territory, which could signal exhaustion among sellers.
Top altcoins slide toward critical support levels
Ethereum’s decline has not occurred in isolation: several leading altcoins have also breached important support areas.
This downward move is taking place within a wider market correction, mirroring shaky behavior seen on Wall Street over the last two days.
With Bitcoin sliding toward $108,000 and Ethereum slipping to daily lows near $3,800, top altcoins such as XRP, Solana (SOL) and Binance Coin (BNB) have followed suit.
XRP fell about 6% to $2.78 amid a breakdown of a descending trendline, while Solana—after a brief rally in recent days—has corrected below $200.
SOL’s 7% drop over the past 24 hours left the token trading near $197.
Meanwhile, BNB has run into resistance after a sharp rally that produced several new highs above $1,000. Profit-taking pushed BNB down to roughly $964, about a 5% decline in the last day.