Some analysts warn that Ethereum could face a significant correction that would take its price below $3,000. The truth is that the cryptocurrency has shown signs of weakness in recent days and is struggling to maintain its current levels. This analysis seeks to provide greater clarity on the technical and fundamental scenario of ETH.

At the time of writing, the price of ETH is trading at $3,884, with daily gains of 2.4%, weekly gains of 1.2%, and monthly gains of 15.7%. There are no major movements in the crypto market, but after the losses of the previous day, the market shows a slight rebound.

What is behind the current levels of ETH?

Institutional investors are reducing their exposure to risk assets, including cryptocurrencies, amid the growing global economic uncertainty caused by trade tensions between the United States and China.

In this context, caution has increased the correlation between cryptocurrency prices and stock markets. Ethereum is struggling to maintain its upward momentum and is following the general market trend, with BTC trading below $110,000.

Despite this, relevant institutional purchases are detected. BitMine Immersion Technologies would have acquired about $279.64 million in ETH, equivalent to approximately 72.898 units, transferred from the active wallets of some platforms in the last 14 hours. This operation reflects an increase in institutional activity within the market.

<<BitMine bought $279,640,000 in ETH today. Big players are accumulating Ethereum>>.

In addition, a group of Asian investors plans to create an Ethereum treasury valued at $1 billion to use ETH as a regional reserve asset. The initiative is led by Li Lin, founder of a platform and president of Avenir Capital.

<<Ethereum acquires another billion-dollar ETH treasury company>>.

Technical analysis: key levels to consider

The price of ETH shows significant stabilization after the strong pullback of the previous day. The weekly chart suggests the formation of a descending wedge, although the breakout level has not yet been confirmed.

Resistances to watch:

$3.933: EMA 200 level, where the price was previously rejected.

$4,000: key psychological resistance that could serve as a foundation for a potential recovery.

$4.294: strongest level, corresponding to the maximum of October 13.

Supports to keep in mind:

$3.678: immediate support, which represents the daily low.

$3.568: midpoint with a high concentration of buy orders.

$3.445: key support; its loss could drive the price down to the lows of October 10.

The RSI at 51 points indicates balance between bullish and bearish forces, with no clear signals of a trend change in the short term.

Important data to consider about ETH

Ethereum ETFs recorded outflows of $232 million during the week, a figure much lower than the losses of Bitcoin funds, which exceeded $1.2 billion. In comparison, Ethereum showed greater relative stability against other assets in the sector.

The Total Value Locked (TVL) of Ethereum is around $84 billion, according to data from a platform. Although the network recorded a daily drop of 0.7%, it continues to concentrate almost two-thirds of all liquidity in the DeFi ecosystem, remaining the leading platform in decentralized finance.

On October 17, 2025, the commissions on the Ethereum network exceeded $1.6 million in 24 hours, reflecting a sustained demand for block space. On the same day, the transaction volume remained above 1.6 million and active addresses reached 612,377, one of the highest levels of the month.

According to data from a platform, staking with Ethereum offers a return of 3%. This yield has led several analysts to consider Ethereum a competitive return asset compared to Bitcoin.