Ethereum Loses Key Support as Market Panic Spreads
$Ethereum has officially broken below the $3,200 support zone, a level that has held multiple times over the past weeks. This breakdown comes immediately after Bitcoin’s violent crash under $100,000, which triggered market-wide panic selling.
ETH/USD 4-hours chart – TradingView
$ETH reacted instantly, falling more than 5% in a single 4H candle as buyers failed to defend the yellow support line on your chart.
ETH Chart Analysis: Strong Support Hit – But Not Safe
The chart above shows:
- A clean double-bottom around $3,200 in early November
- Several failed attempts to reclaim $3,430–$3,480, confirming heavy sell pressure
- A strong rejection at the 21 EMA (yellow arrows) right before the crash
- Momentum turning bearish as Stoch RSI curls downward
Now that $BTC broke below 100K, the historical correlation strongly suggests ETH will not hold the $3,200 floor this time.
Ethereum Price Prediction: Next Ethereum Price Targets
If ETH loses the $3,200–$3,150 band:
🔻 $3,000 – psychological level: Likely to be tested quickly if BTC continues sliding.
🔻 $2,850 – $2,800 – major demand zone: This is the next real support on the macro chart. ETH should reach this area next if Bitcoin remains under pressure.
🔻 In an extreme flush: $2,650: Upside recovery only starts if ETH reclaims:
🔼 $3,350 – $3,480: Critical resistance cluster. Failure here = continuation down.
