Ethereum Price Risks Breakdown Below $3,700 Support

Chart Pattern Narrow as Ethereum Price Faces Critical Test

Recent Ethereum price analyses indicate that both technical and institutional forces are mounting a case that reflects the market stuck between hope and hesitation. Although long-term fundamentals are positive, short-term momentum is weakening, and the coming days will determine whether ETH will recover or fall deeper.

As volatility declines and traders monitor key resistance levels, the next move could spell out the direction of Ethereum into November. Analysts are cautioning that the structured chart, as well as investor action, is set for a decisive breakout. Whether bullish or bearish, the direction could redefine sentiment in the larger altcoin market.

Ethereum Price Pressure Builds at $3.7K Support

Analyst Ted noted that Ethereum price is retesting support at $3,700, a level that has served as a crucial cushion since mid-September. However, each retest has weakened support, as each rebound has led to lower highs, signalling a fading bullish momentum. In addition, the $4,000 level remains a psychological battlefield, where, unless there is a sustained close above it, confidence among traders diminishes.

ETHUSD 1D CHART | SOURCE: X

The analyst further noted that the recent bounce lacked strength due to low volume. Sellers are still strong, adding pressure to the price towards the lower end of the $3,650-$3,570 zone. If ETH fails to regain above $4,000 in the next few days, lower liquidity pools around the levels of $3,350 could be tested. On the other hand, a rebound above resistance would be a good sign of renewed confidence that would revive interest towards $4,250 and above.

Triangle Tightens as Volatility Looms

Additionally, analyst Mister Crypto traced a symmetrical triangle structure that has determined the crypto's trajectory since the beginning of October. This trend is a sign of indecision as both buyers and sellers anticipate a catalyst before making any significant move. The constraining price gap of $3,750-$4,100 suggests growing tension, which is often a prelude to a breakout or breakdown.

ETHUSD CHART | SOURCE: X

Moreover, the rebounds have been weaker with each successive dip towards the lower trendline, suggesting that buying power is reducing. Meanwhile, the descending upper boundary from the $4,400 zone continues to cap every attempt at recovery. Ethereum price could decline quickly to $3,500 if it closes below the zone of $3,750-$3,800.

Nevertheless, a breakout above the $4,000-$4,100 ceiling could turn sentiment to the upside, indicating that buyers are taking the lead once again after weeks of stagnation.

Outflows Add to Downside Risk

Ted also added that institutional flows are increasing short-term uncertainty. Ethereum exchange-traded funds experienced an outflow of $184.2 million on October 30, 2025, with BlackRock redeeming around $118 million. These huge withdrawals, if sustained, reflect a risk-averse attitude that could lead to additional selling pressure.

SOURCE: X

However, history shows that sharp outflows could come before new accumulation phases. Volatility declines can be followed by a resurgence of long-term investors, who could stabilize price action. In the meantime, Ethereum price is suspended between recovery and retracement, waiting for a decisive catalyst to establish its next course.