ETH price fell from $4,960 to $3,000 in 3 months, reversing the decline of 2020. Analysts track whale activity, support areas, and market signals.
Ethereum (ETH) has seen a sharp decline over the past three months, falling from a high of $4,960 to a low near $3,000. The move is similar to the 2020 correction, when the asset fell from $490 to $308 before starting a significant rally.
Analysts are making comparisons between both events as ETH begins to recover.
2020 price decline correction
Galaxy, the cryptocurrency analyst, noted that both corrections saw a decline. In 2020, the price rebounded strongly after reaching a low of $308. In 2025, the price of ETH fell to $3,064 and is now trading at over $3,500. Galaxy said the market may repeat the same pattern.
$ Ethereum It went through a similar correction in 2020.
2020: $490 to $300
2025: $4,900 to $3,000If you ask me, we’re just getting started. pic.twitter.com/l0P3SEZvxh
– Galaxy (@galaxyBTC) November 10, 2025
It is worth noting that the main support area is now between $3,000 and $3,100. Clear consolidation above support could lead to a strong recovery, as we saw in the previous session.
In addition, Cass Abby He pointed out to similar settings in 2025. Earlier this year, ETH fell, then rebounded 100%. They believe the recent move toward $3,000 may have been another false collapse.
Key support and resistance levels
Lark Davis He said ETH is still holding above the trend line that has been supporting the price since April. The support line remains intact, but short-term pressure remains. The 20-day EMA is acting as resistance near $3,695. ETH has not closed above it yet.
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Meanwhile, the MACD is approaching a bullish crossover. Davis said,
“Support vs. Resistance vs. Momentum – Something is about to break.”
ETH is compressed between levels. A breakout or collapse could soon follow, depending on which side makes way first.
Whale activity and liquidity goals
BitcoinSensors subscriber ETH quickly reversed after hitting lows of $3,350. The motive behind this move may have been to grab liquidity. The next area of interest is near $4,950, where there is resistance and more liquidity.
The first I mentioned Large holders started buying ETH when the price reached $3,200. If support holds between $3,000 and $3,400, targets between $4,500 and $4,800 are in play. Whale activity in this range may support a continued move to the upside. However, Ali Martinez I mentioned 23 of the largest ETH whales sold or redeployed their holdings over the past week.
This comes as ETH trading volume and open interest reach record levels, much like CryptoPotato I mentioned. Some market watchers now say that speculation drives prices more than long-term holding.
Moreover, so does BitMine Released Its most recent holdings are on November 10, 2025. The company reported 3.5 million Ethereum worth $3,639 each, as well as holdings in Bitcoin and other assets. The reported position indicates continued institutional exposure to Ethereum despite market volatility.
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