Ethereum (ETH) has suffered a severe blow, plunging below the critical $1,500 support level for the first time since reaching its multi-year highs. This dramatic decline marks a devastating turn in 2025 for the leading altcoin, which has now shed over 60% of its value this year following what many considered a disappointing performance through 2023 and 2024.
The crypto carnage mirrors broader financial market turmoil. Selling pressure is rampant across asset classes, with Dow Jones Futures already indicating a 3% pre-market drop, adding to the significant 7.55% plunge witnessed last week. This widespread risk-off sentiment is weighing heavily on digital assets.
Technically, while the relentless selling has pushed Ethereum’s Relative Strength Index (RSI) towards nearly oversold conditions – a state that sometimes precedes a price bounce – the immediate momentum remains overwhelmingly bearish. An RSI nearing oversold simply highlights the intensity of the recent price drop.
With Ethereum now trading at lows not seen in over two years, the crucial question echoing through the market is how much further the price could fall. All eyes are turning to whether ETH will test, or potentially even breach, its previous major bear market bottom established around the $881 mark. The current market structure and prevailing fear leave this unsettling possibility on the table for traders and investors.
