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Key TakeawaysETH price drops 6.11%, underperforming the broader crypto market’s 4.89% declineLeverage unwinding intensifies, with $148M ETH longs cleared in 24 hoursIndicators remain bearish, with MACD at –228.7 and Momentum at –408.2 showing firm downward pressureLeverage Unwinding Accelerates ETH’s DeclineETH was hit by a wave of forced selling as over $600M in crypto futures liquidated in the past 24 hours, including $148M in ETH longs. High leverage levels (often 25x–100x) amplified the move, pushing Ethereum to a 24h low near $2,988.Sustained negative funding rates—currently –0.0019775% for top altcoins—signal ongoing selling pressure that could prolong volatility. Institutional Outflows Weigh on Market ConfidenceETH ETFs experienced over $700M in outflows last week, part of a broader $3.2B crypto ETP exodus. This withdrawal reflects a shift away from risk assets amid concerns over Fed policy and slowing global growth.ETH’s 0.82 correlation with the Nasdaq exposes it to traditional risk-off flows. Meanwhile, ETHE’s –24.7% discount to NAV highlights the negative pressure and likelihood of prolonged bearish sentiment.Source: Yahoo Finance Technical Indicators Confirm a Strong DowntrendMarket dashboard data reveals a cluster of bearish technical signals:OscillatorsRSI (14): 30.5 — near oversold, but lacking upward momentum.Momentum (10): –408.2 — strong negative acceleration.MACD (12, 26): –228.7 — confirming sustained downside bias.Williams %R (14): –93.3 — indicating extreme selling pressure.These values show a market struggling to stabilize.Moving AveragesAll major moving averages remain aligned downward:Source: TradingViewThe alignment of these averages above current prices signals persistent downtrend structure.ETH has also broken below its 200-week moving average (~$3,234) and the 23.6% Fibonacci retracement (~$3,945)—a combination that historically leads to prolonged corrective phases. 4. Outlook: Key Levels to Watch in the Coming SessionsETH is trading below the $3,350 breakdown level, yet bears have struggled to force a break below $3,000. This creates a narrow but important battleground.Key support levels$3,000 — major short-term support$2,956.90 — recent low$2,900 — long-term holder cost basisKey resistance levels20-day EMA at 3,444 — first major hurdle50-day SMA at 3,871 — where broader trend shifts occurA sharp rejection at the 20-day EMA would increase the risk of a break below $3,000, opening the way toward $2,500. However, a strong close above the 50-day SMA could signal that the correction is losing steam.

On Nov 18, 2025, 03:39 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,000 USDT benchmark and is now trading at 3,004.610107 USDT, with a narrowed narrowed 5.15% decrease in 24 hours.

According to Foresight News, on-chain analyst Yu Jin reported that a trader known as 'Maji Dage' faced substantial financial setbacks following the liquidation of their Ethereum long position. After the initial liquidation, the trader reinvested $220,000 at a price of $3,052. However, as Ethereum's value fell below $3,000, the position was liquidated again, resulting in a loss of $3.36 million. The trader's account, which originally held $3.437 million, has now dwindled to just $47,000.

According to Foresight News, during the Devconnect Ethereum Day livestream, Hsiao-Wei Wang, Co-Executive Director of the Ethereum Foundation, delivered a keynote titled 'EF & Ethereum Update.' She likened Ethereum, which has been around for a decade, to a 'ladder continuously built by the community,' offering an open path for developers and users without promising an endpoint. Each new step contributed by builders becomes a starting point for others. Hsiao-Wei highlighted that the Ethereum Foundation is entering a new phase characterized by 'reliability, flexibility, and governance responsibility.' She emphasized that the foundation does not control Ethereum but maintains an environment where innovation can naturally occur, with reliability being the foundation's cornerstone. She described her role as enabling others to 'climb higher' and stated that the foundation will continue its foundational work of 'keeping the ladder stable.' Discussing community structure, Hsiao-Wei noted that Ethereum's growth stems from the composite contributions of multiple entities, including research teams, client developers, application builders, scholars, students, and local communities. She stressed that Ethereum's success is not due to any single team owning it, but rather because no team can own it alone. She reviewed the foundation's long-term investments in zero-knowledge proofs, client diversity, and early exploratory technologies, which have now become core infrastructure. She reiterated that true decentralization, credible neutrality, and resilience are non-negotiable values for Ethereum, warning that if these principles are compromised, 'the entire ladder would shake.' Hsiao-Wei believes that Ethereum has now become a platform for new assets, identities, cultures, and collaboration methods. She anticipates that the trend of expanding real-world applications will continue through 2026 and noted that Ethereum has become more stable and welcoming for new developers. Finally, she expressed gratitude for the community's contributions and stated that the next decade will be shaped by the influx of new developers.

According to PANews, Machi Big Brother, also known as singer Huang Licheng, experienced a complete liquidation of his 25x leveraged Ethereum long position amid a market downturn, resulting in a loss of approximately $3.6 million. Despite this setback, Machi has reopened a 25x leveraged long position on Ethereum. Statistics indicate that Machi has incurred losses exceeding $19 million through similar trading strategies, yet he continues to pursue long positions in Ethereum.

On Nov 17, 2025, 00:12 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,100 USDT benchmark and is now trading at 3,100.290039 USDT, with a narrowed narrowed 1.87% decrease in 24 hours.

On Nov 16, 2025, 16:03 PM(UTC). According to Binance Market Data, Ethereum has dropped below 3,100 USDT and is now trading at 3,097.199951 USDT, with a narrowed 2.77% decrease in 24 hours.

On Nov 16, 2025, 11:20 AM(UTC). According to Binance Market Data, Ethereum has dropped below 3,200 USDT and is now trading at 3,198.52002 USDT, with a narrowed narrowed 1.06% increase in 24 hours.

According to Odaily, Tom Lee, Chairman of BitMine, shared insights on the X platform regarding the current downturn in the cryptocurrency market. He highlighted that the decline has exposed several issues, such as significant gaps in the balance sheets of one or two market makers and opportunistic entities causing Bitcoin price drops and sell-offs. Despite these challenges, Lee emphasized that the discomfort caused by these problems will not persist long-term and will not deter Wall Street's goal of establishing an 'ETH super cycle.' However, he advised against using leverage at this time due to the risk of being trapped.In response to community inquiries about when the balance sheet issues of market makers might be resolved, Lee estimated a timeframe of 6-8 weeks.

On Nov 16, 2025, 02:48 AM(UTC). According to Binance Market Data, Ethereum has crossed the 3,200 USDT benchmark and is now trading at 3,201.919922 USDT, with a narrowed 0.50% increase in 24 hours.

According to Odaily, analysis by 10x Research indicates that Ethereum (ETH) has fallen below its 7-day and 30-day moving averages, suggesting a bearish technical outlook. Over the past week, ETH has experienced a decline of 6.6%. Additionally, ETH exchange-traded funds (ETFs) have seen a net outflow exceeding $1.4 billion, while long-term holders of 3 to 10 years are selling at the fastest rate since 2021, adding supply pressure. Despite the increased selling pressure, large addresses are accumulating ETH during the downturn. Several major investors, known as 'whales,' have collectively purchased over a billion dollars' worth of ETH.

On Nov 15, 2025, 17:21 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,200 USDT benchmark and is now trading at 3,201.340088 USDT, with a narrowed narrowed 0.69% decrease in 24 hours.

According to Odaily, investor Huang Licheng, known as 'Maji Da Ge,' has recently increased his leveraged Ethereum position. Utilizing a 25x leverage, Huang has added to his holdings, bringing his total to 7,745 ETH with a liquidation price of $3,047.88. Currently, he faces an unrealized loss of $1.968 million. Additionally, Huang has placed eight limit sell orders for ETH within the price range of $3,188.8 to $3,400.

On Nov 14, 2025, 23:06 PM(UTC). According to Binance Market Data, Ethereum has dropped below 3,100 USDT and is now trading at 3,093.22998 USDT, with a narrowed 4.11% decrease in 24 hours.

On Nov 14, 2025, 14:44 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,200 USDT benchmark and is now trading at 3,205.469971 USDT, with a narrowed narrowed 6.06% decrease in 24 hours.

On Nov 14, 2025, 12:35 PM(UTC). According to Binance Market Data, Ethereum has dropped below 3,100 USDT and is now trading at 3,098.25 USDT, with a narrowed 11.34% decrease in 24 hours.

According to Foresight News, Christine Kim, Vice President of Research at Galaxy, summarized the 169th Ethereum Core Developers Consensus (ACDC) call. This week, developers reported smooth progress on the second block parameter-only (BPO) hard fork initiated on the Hoodi testnet. Client teams are nearing completion of interoperability test preparations, with Teku's ePBS implementation being the closest to running on Kurtosis. Ethereum advocate and ETH investor Ryan Berckmans opposed the inclusion of a forced inclusion list (FOCIL) in the Glamsterdam merge.

On Nov 14, 2025, 04:32 AM(UTC). According to Binance Market Data, Ethereum has dropped below 3,200 USDT and is now trading at 3,198.600098 USDT, with a narrowed 7.76% decrease in 24 hours.

Key TakeawaysWeak onchain usage, low fees, and rising competition from other chains and upcoming altcoin ETFs are limiting ETH upside.A recovery requires stronger network activity, clearer Fusaka upgrade benefits, and renewed institutional inflows.Ether trades near $3,200 as reserve companies face shrinking incentives to accumulate more ETH.Ether (ETH) continues to struggle below the $4,000 mark it last touched on Oct. 29, with each rebound attempt fading quickly. The divergence between Ethereum’s institutional strength and Ether’s weaker price action has left traders questioning what is holding ETH back as 2025 approaches.A major driver is the slowdown in network usage. Ethereum transactions have fallen 23% over the past 30 days, while active addresses dipped 3%. Competing ecosystems — including Tron, BNB Chain and Solana — have posted double-digit growth in the same period, helped by lower fees and smoother user experiences.Because staking yield is a primary reason many investors hold ETH, declining activity and falling gas fees naturally pressure prices. Ethereum fees have dropped 88% from late-2024 peaks, reducing staking returns and weakening one of ETH’s core value propositions.1. Ethereum needs stronger onchain activity and higher feesThe slowdown in network demand is a key drag on ETH. Activity driven by memecoins and speculation earlier in the cycle has faded, reducing transaction fees and lowering staking income.Fees have fallen from $70 million per week in late 2024 to their lowest levels in over a year, putting ETH’s yield-based narrative under strain.2. The Fusaka upgrade must offer clearer benefits for ETH holdersWhile the upcoming Fusaka upgrade is expected to improve data processing through rollups, traders say there is still little clarity on how ETH holders benefit economically.Without clearer value accrual — such as fee flows, higher burn rates or improved staking dynamics — the upgrade narrative remains weak.3. ETH faces rising competition from Solana, BNB Chain, and new altcoin ETFsEthereum dominated institutional inflows in early 2024. After the U.S. spot ETH ETF launch, inflows helped fuel a 140% rally in the 100 days leading up to ETH’s $4,200 peak.But the landscape is changing. With Solana’s ETF now live and XRP, BNB and Cardano ETFs preparing for approval, institutions may begin rotating capital into alternative assets.This could divert flows away from Ethereum, especially as other networks gain traction in user activity and DApp revenue.4. Strategic reserve companies must return to accumulationETH’s drop to $3,200 has pushed strategic Ether reserve companies to trade below their net asset value (mNAV). When mNAV falls, these firms lose the incentive to issue new shares to buy more ETH — a mechanism that previously helped propel prices higher.With issuance paused, reserves may need to rely on debt or alternative strategies, reducing a key source of high-conviction ETH demand.Can Ether reclaim $4,000 before year-end?Ether still has structural advantages — dominant TVL, thriving layer-2 ecosystems and the deepest institutional liquidity outside Bitcoin. But reclaiming $4,000 depends on four critical drivers aligning:Stronger onchain activity and higher fees to boost staking yieldsClearer Fusaka upgrade value for ETH holdersSustained institutional inflows despite new altcoin ETFsRenewed accumulation from ETH reserve companiesUntil these conditions strengthen, ETH is likely to remain capped below key resistance levels — even as the broader Ethereum ecosystem continues to expand, according to Cointelegraph.