Ethereum (ETH) has dropped sharply over the past week, breaking below key levels and moving closer to areas traders often watch for short-term reversals.
The asset is now trading near $3,500, with lower momentum and rising trading volume across the board. Analysts are divided on whether this drop offers a buying opportunity or signals more downside ahead.
Ethereum has fallen 15% in the past seven days, with a daily decline of 6%. The current 24-hour range sits between $3,470 and $3,740, while the 7-day high remains at $4,150. It is now trading about 30% below its August high of around $4,950.
Remarkably, the Stochastic Oscillator shows both lines below 20, a zone many traders associate with oversold conditions. Similar readings in the past were followed by short-term recoveries. The Relative Strength Index (RSI) also reflects this, currently sitting at 33.78, just above the oversold threshold of 30. Crypto analyst Mister Crypto wrote,
“$ETH is clearly oversold here. We usually bounce from this level. This time won’t be different.”
Meanwhile, Ethereum is now below the 10-day EMA ($3,871) and the 10-day MA ($3,936). This puts ETH under both short-term trend indicators, confirming a weaker price structure.
Analyst Lennaert Snyder noted, “$ETH rejected $3,900 resistance and dumped further,” adding that a drop below $3,360 could trigger a reversal zone for long trades.
Some analysts view current support levels as buying areas. Crypto Patel called the move a final opportunity, writing,
“This is your LAST CHANCE to load up before the real run.”
They shared long-term targets between $10,000 and $15,000, though the price remains far below those levels.
Ethereum is trading at 0.0339 BTC on the ETH/BTC chart. Michaël van de Poppe marked the 0.0325–0.035 BTC zone as one where buyers have previously stepped in. He stated ETH is “moving in the ideal area for buying opportunities.”
$ETH is currently moving in the ideal area for buying opportunities on the $BTC pair. pic.twitter.com/djvNEFAH6k
— Michaël van de Poppe (@CryptoMichNL) November 4, 2025
Notably, that level had acted as resistance earlier in the year and is now being retested. The price remains above the 10-week moving average, which supports the current structure.
In a separate update, analyst Ali Martinez said the bullish scenario would require ETH to stay above $3,800, break resistance at $4,900, and then push toward $8,000, with possible pauses near $5,600, $6,400, and $7,200. That path is not confirmed and would depend on a stronger price recovery.
The post Ethereum (ETH) Nears Key Support After 15% Drop: Is This the Final Buy Zone? appeared first on CryptoPotato.
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