Ethereum continues to face bearish pressures, drawing interest from analysts looking into its potential support levels and overall market conditions.
Decline in Ethereum Prices
Over the past week, Ethereum has registered a 3.7% decline, currently priced at $4,352.36. The cryptocurrency is undergoing a correction phase after reaching its all-time high of $4,946.05 noted on August 25, 2025.
Technical Support Level Analysis
Analyst Ali Martinez has identified the $4,250 level as critical for short-term analysis. He pointed out that the formation of a parallel channel indicates a consolidation phase, where a retest of this level might occur, potentially aiding in price recovery.
Decline in Ethereum Supply on Exchanges
Despite the current correction, Ethereum's supply on centralized exchanges has dropped to a three-year low. According to CryptoQuant data, since September 2022, ETH reserves have decreased by nearly 10.7 million, attributed to the rising demand from corporate treasuries and investment funds. The total amount of ETH held by publicly traded companies is also increasing.
The current situation in the Ethereum market requires attention from participants due to the bearish dynamics. Support levels and a decline in supply on exchanges may be key factors for future price behavior.
