Trump's tariff announcement sent Ethereum down to about $3,510 on Friday, a drop of over 20% in one day.
Ethereum News
Ethereum held up much better than most altcoins during Friday's crash, falling only 6.7% in 24 hours while some other coins lost over 95%. The second-largest crypto showed strength during what has become the worst liquidation event in crypto history.
Trump's tariff announcement sent Ethereum down to about $3,510 on Friday, a drop of over 20% in one day. The price hit the 200-day moving average, an important support level, before bouncing back above $3,800.
Technical signals suggest selling might be done. The RSI indicator is at 35, close to oversold levels where prices often reverse higher.
Nearly 1.6 million traders were liquidated, according to Coinglass. Crypto investor Sassal said Bitcoin and Ethereum fared way better than smaller coins, which dropped 70% or more, with some nearly going to zero.
Friday's $20 billion wipeout was the worst single-day liquidation ever, shaking confidence as fears of a U.S.-China trade war grew. The speed and size of losses left deep marks on traders.
Ethereum is now about 22% below its all-time high of $4,957 from August. Fundstrat analysts think Ethereum could rally to $5,550, setting a new record after finding a bottom on Friday.
But there could be selling pressure ahead. CryptoQuant shows Ethereum exchange inflows hit 79 on Saturday, the highest in 2025. This means more coins are moving to exchanges where people usually sell.
High exchange inflows often mean more selling is coming, while low inflows show people are holding, which supports higher prices. The current high levels might limit price gains until the selling eases.
Withdrawals from Ethereum's staking queue hit a record $10 billion in October. This could mean validators are preparing to sell, Nansen analysts told Cointelegraph, but withdrawing doesn't always mean selling.
The difference between ETH's small drop and altcoins' huge crashes shows Ethereum's stronger position in the market. While it still moved with the broader market, it proved it can hold up better during extreme stress.
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