Finance

Ethereum’s 10% Plunge: What’s Behind the Crypto’s Sudden Downturn and Can it Recover?

Ethereum plunged 10.59% to $3,114.64 after failing to hold key support levels, its largest drop since October.

byAndres Castro

November 14, 2025, 9:27 AM

Gold Ethereum coin centered over a screen displaying a green and red candlestick trading chart.

A physical gold Ethereum token is set against a background of a volatile business trading chart. By MDL.

Executive Summary

Ethereum (ETH) plummeted 10.59% to $3,114.64 on Friday, November 14, 2025, marking its largest single-day percentage loss since October 10 and pushing its market capitalization to $387.83 billion.

The downturn occurred as ETH failed to maintain support above $3,500 and broke multiple technical support levels, entering a short-term bearish zone with key resistance at $3,500 and the 50% Fibonacci retracement level near $3,350.

Despite a 4.73% loss over the past seven days and trading 37.15% below its all-time high, Ethereum remains the second-largest cryptocurrency by market capitalization.

The Story So Far

Ethereum’s significant downturn was primarily driven by its failure to sustain critical technical support levels, particularly the $3,500 threshold, which subsequently led to a breakdown through multiple other support points and its entry into a short-term bearish zone, with key resistance now forming at $3,500 and the $3,350 Fibonacci retracement level.

Why This Matters

Ethereum’s sharp 10.59% decline, its largest in over a month, signals a significant short-term bearish shift, as the cryptocurrency failed to sustain critical support levels and entered a “bearish zone.” This downturn, alongside Bitcoin’s dip, could dampen broader market sentiment, potentially leading to increased investor caution. A recovery will be challenging, with crucial resistance levels like $3,350 and $3,500 now acting as significant hurdles, suggesting a period of volatility or further downward pressure if these are not reclaimed.

Who Thinks What?

Ethereum’s recent price action indicates a significant downturn, with the cryptocurrency plummeting over 10% and failing to sustain critical support levels, subsequently pushing its market capitalization lower.

Technical analysts suggest that Ethereum has entered a short-term bearish zone after failing to move above $3,550, with recovery dependent on breaking above key resistance levels at $3,500 and the $3,350 Fibonacci retracement level.

Ethereum (ETH) experienced a significant downturn on Friday, November 14, 2025, plummeting 10.59% to $3,114.64 by late evening trading. This marks its largest single-day percentage loss since October 10, pushing its market capitalization down to $387.83 billion, representing 11.63% of the total cryptocurrency market value. The sharp decline occurred as the cryptocurrency failed to sustain critical support levels.

Price Action and Volume

During the 24-hour trading period, ETH fluctuated between $3,114.64 and $3,251.49. The trading volume for Ethereum reached $49.03 billion, accounting for 22.43% of the total cryptocurrency trading volume within the same timeframe.

Technical Breakdown

The downturn began after Ethereum failed to maintain support above the $3,500 threshold, subsequently breaking through multiple technical support levels. Technical analysis shows ETH trading below the $3,350 mark and falling beneath its 100-hourly Simple Moving Average. After dropping below $3,250, the asset found temporary support around $3,153.

Weekly Performance and Market Context

Over the past seven days, Ethereum has recorded a 4.73% loss, with its price ranging between $3,114.64 and $3,657.37. Despite this recent slump, Ethereum retains its position as the second-largest cryptocurrency by market capitalization. Bitcoin, the leading cryptocurrency, also saw declines during this period, falling 5.09% to trade at $96,962.70.

Resistance and Recovery Outlook

Ethereum’s failure to move above $3,550 ushered it into what traders call a short-term bearish zone, with a bearish trend line forming on the hourly chart indicating resistance at $3,500. A recovery would necessitate breaking above this level. The 50% Fibonacci retracement level of the recent decline from $3,561 to $3,153, sitting near $3,350, now acts as a crucial resistance point for any upward attempts.

Key Takeaways

If Ethereum cannot reclaim the $3,350 level, technical analysis suggests initial support exists near $3,200, with the first major support zone located around $3,150. Currently, ETH trades 37.15% below its all-time high of $4,955.90, which was established on August 24.