ETH Price Analysis: Is Ethereum Dropping To Three Digits?

The Ethereum (ETH) chart shows a five-day losing streak which undermines last week’s recovery rally. Furthermore, the falling price potential breakdown from $1000 psychological level, indicating the sellers attempt for another leg down.

Key points:

Sustained selling should lead ETH price to $900.
The Bollinger Band indicator’s midline gives constant resistance to ETH price.
The intraday trading volume in Ethereum is $12.3 Billion, indicating an 11% loss.

Source- Tradingview

A drastic fall from early May to mid-June plunged the ETH/USDT pair to a low of $896.6. Having said that, the weekly candle managed to close above the combined support of $1100 and the 0.786 Fibonacci retracement level amid the recent relief rally.

However, the recent news regarding the crypto hedge fund Three Arrows Capital plummeting into liquidation has brought significant selling pressure on the crypto market. As a result, the ETH price reverted from the $1272 mark and initiated a downward approach.

The V-top reversal plunged the altcoin by 18.3%, which currently trades at $1032. Furthermore, the five consecutive red candles in the daily chart represent aggressive selling, challenging the $1000 support.

Thus, a daily-candle closing below the $1050-$1000 support would extend the downward spiral to June low support of $900-880.

However, the safe traders can wait for a weekly candle closing below $1100 to confirm a bearish breakdown.

Technical indicator-

Since early April, the Bollinger Band indicator’s midline has acted as dynamic resistance for ETH price. Moreover, a recent reversal from the neutral slope indicates the sellers are in command.

A vortex indicator shows a bearish crossover of the VI+ and VI- lines, providing an extra edge for short-sellers. The expected spread between these lines should validate the sellers’ commitment to this downfall.

Resistance level- $1300, and $1424
Support level- $1000 and $880

Trending
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.