Ethereum 42% Below ATH: ETH Drops Under $3,000 — Where Next?
On Dec. 18, 2025, Ethereum slipped beneath the $3,000 mark and is trading roughly 42% below its all-time high, amplifying concern among traders about the next key bounce level. Volume and intraday volatility have risen as sellers reprice risk across spot venues and derivatives, lifting option implied volatility and feeding short-term liquidation events on leveraged positions.
The move matters because ETH underpins collateral values in DeFi, influences staking economics and affects institutional exposure to crypto risk. Market watchers point to near-term support bands around $2,500 and $2,000 as potential rebound zones—both psychological levels and areas tested in prior drawdowns—while also monitoring Bitcoin correlation and macro drivers for clues. On-chain metrics, fund flows and liquidations will likely determine whether this correction deepens or sets up a stabilizing base; sentiment is cautious and volatility remains elevated.