Ethereum (ETH) Nears Key Support After 15% Drop: Is This the Final Buy Zone?

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Well, well, well, Ethereum (ETH) has decided to take a little tumble this week, shedding a dramatic 15% like it’s nothing. Apparently, breaking below important levels and heading towards those mysterious “buying zones” is all part of the plan. 🙄

Currently lounging around the $3,500 mark, Ethereum’s momentum is practically nonexistent, and the trading volume is just doing its thing, creeping up. Analysts? They’re divided like the last slice of pizza – some say it’s time to buy, others say, “Not so fast, it might keep dropping.” 🤷‍♀️

Price Weakens as Momentum Fades… Duh

In case you missed it, ETH has dropped 15% in the past seven days, and it’s not stopping there. In fact, today’s drop is a casual 6%. Its 24-hour price range is somewhere between $3,470 and $3,740, with a high of $4,150 still lingering from the glorious past. Oh, and it’s still 30% down from that dream high of $4,950 back in August. Yep, August. What a time. 🥴

The Stochastic Oscillator is basically screaming “oversold!” with both lines hanging below 20. Traders, of course, are hoping this means a bounce back, because, well, they always do, right? The Relative Strength Index (RSI) is at 33.78, right on the edge of “oversold” territory. According to crypto guru Mister Crypto,

“$ETH is clearly oversold here. We usually bounce from this level. This time won’t be different.”

We’ll see about that, Mister Crypto. Meanwhile, Ethereum is chilling below the 10-day EMA ($3,871) and the 10-day MA ($3,936), which basically means it’s under both short-term trend indicators and looks pretty weak. Sad times. 😢

Analyst Lennaert Snyder has a more dramatic take: “$ETH rejected $3,900 resistance and dumped further.” Uh-oh. But fear not, the real drama begins if it falls below $3,360 – that’s when the “long trade” lovers come out to play.

Now, some analysts are still holding out hope and are calling this the “final buying opportunity” before Ethereum takes off again. Crypto Patel, always the optimist, says,

“This is your LAST CHANCE to load up before the real run.”

Because, who wouldn’t want to buy now when the price is way below their ridiculously optimistic target of $10,000 to $15,000? 🙄

ETH/BTC Enters a Support Range… Or Does It?

Let’s talk about the ETH/BTC chart for a sec. Ethereum is chilling at 0.0339 BTC, which some analysts have marked as “the zone.” The ever-hopeful Michaël van de Poppe seems to think this is “the ideal area for buying opportunities.” But hey, didn’t that zone act as resistance earlier this year? Yes, yes it did. 🧐

$ETH is currently moving in the ideal area for buying opportunities on the $BTC pair.

– Michaël van de Poppe (@CryptoMichNL) November 4, 2025

But don’t get too excited just yet. This level is being retested now, so we’ll see if Ethereum can pull itself together. On a more positive note, it’s still above the 10-week moving average, which is like that one friend who doesn’t let you hit rock bottom.

And in case you were wondering about the “bullish scenario,” analyst Ali Martinez says ETH needs to stay above $3,800, break that pesky resistance at $4,900, and then climb towards $8,000. Sure, it could pause at a few levels along the way, but that’s assuming ETH actually gets its act together and recovers. We’re all waiting. ⏳

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2025-11-04 20:28