- Ethereum fell to $3,830 on Thursday, dropping nearly 9% in 24 hours, while Bitcoin eased toward about $108,000.
- Crypto analyst IncomeSharks highlighted Ethereum’s price weakness amid a breakdown in the On-Balance Volume (OBV) indicator.
- XRP, Solana and BNB also fell to or below key levels as major cryptocurrencies tumbled.
Ethereum (ETH) experienced significant volatility over the past week, extending its decline over the last 24 hours as sellers pushed the token down to intraday lows near $3,830.
After trading above $4,760 earlier this month, ETH’s near 9% drop in the past day and roughly 16% decline over the prior week have left the asset hovering at an important technical level.
A broader market weakness, with Bitcoin around $108,000 and major altcoins under pressure, combined with a technical breakdown could drive Ethereum toward short-term support near $3,500.
Ethereum price drops nearly 9% as key indicator signals breakdown
The latest sell-off left Ethereum below $3,850 at the time of reporting.
While bulls could potentially reclaim the $3,860 area and attempt a move back to $4,000, analysts point to a critical On-Balance Volume (OBV) breakdown as a warning sign that further losses may follow.
Crypto analyst IncomeSharks noted on X that ETH’s price decline occurred alongside an OBV momentum breakdown.
The OBV, which tracks cumulative volume flow, showed a clear divergence from price action. IncomeSharks said that although horizontal support has not yet been lost, the indicator’s loss of momentum reflects weakening buying pressure.
According to the analyst, that loss of momentum suggests 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
On the weekly chart, Ethereum sits around a key level under which sellers may target support near $3,500.
Both the weekly Relative Strength Index (RSI) and OBV are trending lower.
The weekly RSI remains above 55, indicating bulls still have some room to cope with downward pressure.
Notably, the daily RSI places Ethereum in oversold territory, which could indicate short-term bearish exhaustion among sellers.
Top altcoins drop to critical support levels
Ethereum’s decline did not occur in isolation. Several top altcoins also slipped through critical support levels as the broader market corrected.
This retreat coincided with choppy action on Wall Street over the past two days and broader profit-taking across crypto markets.
With Bitcoin down toward $108,000 and Ethereum sliding to intraday lows near $3,800, leading alternatives XRP, Solana (SOL) and Binance Coin (BNB) followed suit.
XRP fell about 6% to $2.78 after breaking a descending trendline, while Solana—after a brief rally in recent days—corrected below $200.
SOL’s roughly 7% drop over 24 hours put the token near $197.
BNB, which had experienced substantial gains and multiple new highs above the $1,000 level, faced resistance on the pullback.
Widespread profit-taking left BNB around $964, down roughly 5% in the last day.