Ethereum price weakness deepens as it flirts with $3,500 correction

After a volatile week of failed recoveries and fading momentum, Ethereum price is showing renewed signs of strain as it slips deeper into correction territory.

Ethereum’s latest decline has left the token trading at $3,773, down nearly 7% for the day and over 12% on the week, per data from crypto.news.

The persistent downward pressure has erased near-term gains and put ETH more than 15% lower than its price from one month ago, confirming a deepening weakness in the market.​

Last week’s sharp market crash set the tone for the token’s decline, sending it briefly below $3,500 before a rapid weekend bounce restored Ethereum (ETH) to a resistance area just above $4,250. This level has formed a critical technical marker since August, acting as key support during rallies and stiff resistance during recent corrections.

As ETH clawed its way back to $4,250 following the crash, it was met with heavy selling pressure. Technical indicators point to continuing market fatigue and an absence of bullish conviction. 

With sellers in control and momentum indicators flashing, ETH could be set for a deeper correction toward $3,500, a pivotal level for both short- and medium-term price action.

Ethereum price outlook

ETH is currently wedged just under a key weekly support level that has repeatedly shaped its price action over recent months. Higher time frame levels like this often see price move through them intraday, but a weekly close below $3,800 raises the risk that this support could flip to resistance, setting a new hurdle for bulls. 

If ETH closes the week below $3,800, traders will likely set sights on $3,450, where aggressive buying previously sparked a sharp rebound. Conversely, a weekly close above $3,800 would reignite bullish hopes. ETH could then target a fresh run at $4,250, an area that has consistently acted as major resistance since August.

Overcoming that wall will require more than just technical momentum. Strong volume and visible buying from institutional investors, corporate ETH treasuries, and robust ETF inflows will be essential catalysts. Without these supportive forces, ETH’s outlook remains vulnerable, with $3,500 increasingly in play.