- Ethereum fell to $3,830 on Thursday, down nearly 9% in 24 hours as Bitcoin plunged toward $108,000.
- Crypto analyst IncomeSharks highlighted Ethereum’s price weakness amid an OBV breakdown.
- XRP, Solana and BNB also slid to or below key support levels as the crypto market declined.
Ethereum (ETH) experienced significant volatility over the past week, with its value extending losses in the last 24 hours as the broader market pushed the token down to an intraday low of $3,830.
After trading above $4,760 earlier this month, ETH’s nearly 9% drop in the past 24 hours and a 16% decline for the week have left the asset testing important technical levels.
Broad weakness that drove Bitcoin toward $108,000 and left leading altcoins struggling aligns with technical signals suggesting Ethereum’s price could test lower support near $3,500 in the short term.
Ethereum price drops nearly 9% as key indicator signals a breakdown
Recent market feeds showed Ethereum trading below $3,850 at the time of writing.
Although bulls could reclaim the $3,860 area and target $4,000, analysts point to a notable breakdown in the On-Balance Volume (OBV) indicator as a sign that further losses are possible.
Crypto analyst IncomeSharks emphasized on X that ETH’s decline coincided with an OBV momentum breakdown.
The indicator, which measures cumulative volume flow, diverged clearly from price action. While horizontal support remains intact for now, IncomeSharks noted the OBV breakdown signaled weakening buying pressure.
According to the analyst, the loss of momentum points to a bearish 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 has reached lower critical levels where sellers could target support around $3,500.
Both the weekly Relative Strength Index (RSI) and OBV are trending downward.
The weekly RSI remains above 55, indicating there is still some room for bulls to absorb downward pressure.
Notably, the daily RSI shows Ethereum entering oversold territory, which could indicate a potential exhaustion of bearish momentum.
Ethereum price chart
Top altcoins fall to key support levels
Ethereum’s decline was not isolated: several leading altcoins also broke through important support levels.
This broader market pullback coincided with choppy action on Wall Street over the past two days.
As BTC slipped toward $108,000 and Ethereum dropped to intraday lows near $3,800, altcoins such as XRP, Solana (SOL) and Binance Coin (BNB) followed suit.
XRP fell about 6% to $2.78 amid a breakdown of its descending trendline, while Solana, after a brief rally in recent days, corrected back below $200.
A roughly 7% 24-hour decline put SOL near $197.
Meanwhile, BNB faced resistance after a pronounced rally that included multiple all-time highs above $1,000.
BNB held near $964, down roughly 5% in the past 24 hours.