Crash

Ethereum

Galaxy

Resistance

when

Ethereum (ETH) has seen a steep decline over the past three months, dropping from a high of $4,960 to a low near $3,000. The move resembles the 2020 correction, when the asset fell from $490 to $308 before starting a major rally.
Analysts are drawing comparisons between both events as ETH begins to recover.
<h2 id="price-drop-matches-2020-correction">Price Drop Matches 2020 Correction</h2>
Crypto analyst Galaxy pointed out that both corrections saw a drop. In 2020, the price bounced back strongly after hitting a low of $308. In 2025, ETH fell to $3,064 and is now trading above $3,500. Galaxy said the market could be repeating the same pattern.
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> went trough a similar correction back in 2020.
 2020: $490 to $300 2025: $4900 to $3000
 If you ask me, we’re just getting started. <a href="https://t.co/l0P3SEZvxh" rel="noopener noreferrer nofollow">pic.twitter.com/l0P3SEZvxh</a>
 — Galaxy (@galaxyBTC) <a href="https://twitter.com/galaxyBTC/status/1987758458767036772?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 10, 2025</a>
</blockquote>

Notably, the key support zone is now between $3,000 and $3,100. A clear hold above support could lead to a strong recovery, as seen in the previous cycle.
In addition, Cas Abbé <a href="https://cryptopotato.com/ethereum-eth-rebounds-20-from-recent-bottom-but-bulls-still-in-danger-analyst/" rel="noopener noreferrer nofollow">pointed</a> to similar setups in 2025. Earlier this year, ETH dropped, then bounced 100%. They believe the recent move towards $3,000 may have been another false breakdown.
<h2 id="key-support-and-resistance-levels">Key Support and Resistance Levels</h2>
Lark Davis <a href="https://x.com/TheCryptoLark/status/1987906875635986633?s=20" rel="noopener noreferrer nofollow">said</a> ETH is still holding above a trendline that has supported the price since April. That support line is intact, but short-term pressure remains. The 20-day EMA is acting as resistance around $3,695. ETH has not yet closed above it.
Meanwhile, the MACD indicator is close to a bullish cross. Davis said,
<blockquote>
 “Support vs. resistance vs. momentum – something’s about to give.”
</blockquote>
ETH is being squeezed between levels. A breakout or breakdown could follow soon, depending on which side gives way first.
<figure style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2025/11/G5Z2xIQXUAAXycC.jpeg" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2025/11/G5Z2xIQXUAAXycC.jpeg" alt="Ethereum (ETH) price chart" width="1200" height="528"></a>
 <figcaption>
 Source: Lark Davis/X
 </figcaption>
</figure>
<h2 id="whale-activity-and-liquidity-targets">Whale Activity and Liquidity Targets</h2>
Bitcoinsensus <a href="https://x.com/Bitcoinsensus/status/1987922016293286062?s=20" rel="noopener noreferrer nofollow">shared</a> that ETH reversed quickly after sweeping lows around $3,350. This move may have been driven by a liquidity grab. The next area of interest is near $4,950, where there is resistance and more liquidity.
PRIME 𝕏 <a href="https://x.com/primenews_en/status/1987891403439976737?s=20" rel="noopener noreferrer nofollow">reported</a> that large holders began buying ETH when the price hit $3,200. If support between $3,000 and $3,400 holds, targets around $4,500 to $4,800 are in play. Whale activity in this range may support a continued move higher. However, Ali Martinez <a href="https://x.com/ali_charts/status/1987936038522585295?s=20" rel="noopener noreferrer nofollow">reported</a> that 23 of the largest ETH whales sold or redistributed holdings over the past week.
This comes as ETH trading volume and open interest have reached record levels, as CryptoPotato <a href="https://cryptopotato.com/binance-eth-volume-explodes-past-6-trillion-heres-what-it-means/" rel="noopener noreferrer nofollow">reported</a>. Some market watchers now say speculation is driving prices more than long-term holding.
Moreover, BitMine also <a href="https://x.com/Crypto_Potato/status/1988134895198121988?s=20" rel="noopener noreferrer nofollow">released</a> its latest holdings on November 10, 2025. The company reported 3.5 million ETH valued at $3,639 each, as well as holdings in BTC and other assets. The reported position indicates continued institutional exposure to Ethereum despite market fluctuations.
The post <a href="https://cryptopotato.com/eth-deja-vu-2025-crash-mirrors-2020-drop-whats-next-for-ethereums-price/" rel="noopener noreferrer nofollow">ETH Déjà Vu? 2025 Crash Mirrors 2020 Drop — What’s Next for Ethereum’s Price?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

ETH Déjà Vu? 2025 Crash Mirrors 2020 Drop — What’s Next for Ethereum’s Price?

Table of Contents

CryptoPotato_News

Other articles published on Nov 11, 2025

Join our free newsletter for daily crypto updates!