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Ethereum News Update: Is the $3,150 Level Ethereum's Final Defense Against a Steeper Drop?

Ethereum News Update: Is the $3,150 Level Ethereum's Final Defense Against a Steeper Drop?

Bitget-RWA2025/11/14 18:46
By:Bitget-RWA

- Ethereum's price dropped 10% to $3,150, testing critical support as market participants assess rebound potential amid mixed institutional and retail demand. - A breakdown below $3,590 triggered accelerated selling, with 138% above-average volume indicating institutional participation in the selloff. - Broader crypto market declines saw Bitcoin fall to $97,000 and $260M in ETH ETF outflows, signaling waning institutional confidence. - Technical indicators show Ethereum failing the 200-day EMA and RSI in d

Ethereum experienced a 10% drop in its price during recent sessions, challenging key support zones as traders assess the chances of a recovery. The cryptocurrency, which has shown significant volatility due to inconsistent interest from both institutions and individual investors, is now hovering around $3,150—a level that market experts believe could provide temporary support. Nevertheless,

, based on technical signals and current market trends.

The downward momentum intensified after

slipped beneath the $3,590 support mark, a significant technical barrier that has often indicated a bearish . Market watchers are now focused on the $3,510–$3,530 range as the next crucial support, warning that toward the $3,480–$3,500 area. Analysis of trading volumes highlights the intensity of the selloff, with above the daily average, pointing to significant institutional selling activity.

Ethereum News Update: Is the $3,150 Level Ethereum's Final Defense Against a Steeper Drop? image 0
Ethereum's recent weakness reflects a wider downturn across the cryptocurrency market. , the market’s largest digital asset, also saw a $97,000 trading range as the total crypto market value fell by 5.4% to $3.36 trillion in the last 24 hours. Outflows from Ethereum and Bitcoin ETFs have further dampened sentiment, with on Thursday—the highest since November 6. Leading the withdrawals were Grayscale’s and BlackRock’s , reflecting declining confidence among major institutional players.

Technical analysis suggests a cautious bearish outlook. Ethereum has repeatedly failed to surpass its 200-day Exponential Moving Average (EMA), a key resistance for any sustained upward move. The Relative Strength Index (RSI) continues to trend downward, and the Stochastic Oscillator is approaching oversold levels, indicating a possible short-term bounce but not a reversal of the prevailing downtrend.

, with $206.5 million in futures contracts closed out in the past 24 hours, including $155.3 million in long positions.

Despite these immediate hurdles, some market analysts believe that Ethereum’s historical support at $3,150 could help steady prices. “This level has previously attracted buyers,” a crypto strategist commented, though he warned that

down to $2,850. Conversely, a strong rally above $3,700 could revive bullish momentum, targeting the $3,850–$4,000 range.

Overall, the market remains delicate, with subdued demand from both institutions and retail investors adding to downward pressure.

, another leading altcoin, is also trading below $2.30, while . For Ethereum, the next few days will likely depend on whether the $3,150 level holds and if ETF outflows stabilize—factors that could shape the direction of the next significant price move.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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