- Ethereum slid to $3,830 on Thursday and fell nearly 9% in 24 hours as Bitcoin plunged toward $108,000.
- Crypto analyst IncomeSharks highlighted ETH’s weakness within an on-balance volume (OBV) breakdown.
- XRP, Solana and BNB also dropped below key support levels as the broader crypto market sold off.
Ethereum (ETH) has experienced sharp volatility this week. Bearish pressure pushed the token down to a low of $3,830, widening losses over the past 24 hours as the market pulled back.
ETH had traded above $4,760 earlier this month, but it has now fallen almost 9% in one day and about 16% over the past week, placing the asset near several important technical levels.
Broader market weakness — including Bitcoin’s move toward $108,000 and pressure on major altcoins — raises the possibility of a short-term technical breakdown that could take Ethereum toward $3,500.
Ethereum price falls nearly 9% as key indicators point to breakdown
In the latest crypto dump, Ethereum was trading below $3,850 at the time of writing.
Bulls could still reclaim the $3,860 zone and attempt a move back toward $4,000, but analysts have flagged a significant OBV breakdown as a potential signal of further losses.
As highlighted by crypto analyst IncomeSharks on X, ETH has been falling while on-balance volume momentum deteriorates.
The OBV, which measures cumulative volume flow, shows a clear divergence from price action. IncomeSharks notes that although horizontal support remains intact for now, weakening buying pressure is a sign of vulnerability.
The loss of momentum on OBV suggests a bearish outlook unless buying returns to reverse the trend.
$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 near a critical level where sellers could target support around $3,500. Both the weekly Relative Strength Index (RSI) and OBV are trending lower.
The weekly RSI remains above 55, indicating there may still be room for bulls to absorb downside pressure. At the same time, the daily RSI has moved toward oversold territory, which can sometimes signal bearish exhaustion.
Major altcoins slide below key support levels
Ethereum’s decline has not been isolated. Several top altcoins have also fallen through important support levels amid a broader market correction that coincided with volatile moves on Wall Street over the past two days.
With BTC dipping toward $108,000 and ETH touching intraday lows near $3,800, market leaders such as XRP, Solana (SOL) and Binance Coin (BNB) followed suit.
XRP dropped about 6% to $2.78 after breaking down from a descending trendline. Solana, which saw a short-lived bounce in recent days, corrected below $200 and traded close to $197 after falling roughly 7% in 24 hours.
BNB, which had rallied to multiple all-time highs above the $1,000 mark, faced resistance and profit-taking. As selling broadened, BNB fell about 5% over the past day and traded near $964.