ETH Bulls Crushed as Price Drops Below Crucial Level

TL;DR ETH lost $4,100 support, triggering fears of further downside toward the $2,750 ￰0￱ bands suggest $4,840 must break to confirm recovery; failure risks deeper ￰1￱ action mirrors 2020 fractal, but bulls must reclaim resistance to avoid extended ￰2￱ Slips Below Crucial Support Zone Ethereum (ETH) has dropped below the key $4,100 level, breaking down from its recent range and putting bullish momentum on ￰3￱ move follows a sharp correction of nearly 20% over the past two ￰4￱ the time of writing, ETH trades around $3,900, marking a weekly decline of over 12%. Analyst Daan Crypto Trades noted the importance of the $4,090 level as a cycle high. “ If the weekly closes below the ~$4.1K level, ” he stated, “ watch closely if there’s additional continuation down over the days and weeks following it. ” He added that the current move could represent a false breakout, but confirmation would only come if the price starts grinding back up.) September 26, 2025 Support Retest Around 20-Week MA Michaël van de Poppe identified the current zone between $3,800 and $4,000 as an important area of ￰5￱ is now approaching the 20-week moving average, which has often acted as a dynamic support level in previous ￰6￱ me, this is the ideal zone to start accumulating positions in $ETH .

It’s a higher timeframe support test and approaching the 20-Week ￰7￱ — Michaël van de Poppe (@CryptoMichNL) September 26, 2025 The weekly chart he shared shows a support block that had previously acted as a base for upward ￰8￱ the zone holds, it could stabilize the ￰9￱ not, lower levels around $2,850 may be ￰10￱ Bands Point to Key Resistance and Downside Risk Ali Martinez used the MVRV Extreme Deviation Pricing Bands to mark the next areas of ￰11￱ noted that $4,840 is the critical level to break in order to reverse the current ￰12￱ to the MVRV model, a move above this line could lead to a push toward $5,860. On the downside, Ali warned that failure to reclaim this level could bring ETH back to $2,750, aligning with the -0.5σ deviation band.

“Fail, and a correction to $2,750 comes into play,” he ￰13￱ currently trades above the MVRV mean at $3,797, but if that level is lost, downside pressure may increase.