Ethereum Crash to $3.5K: What ETH Coin Needs to Avoid a Deeper Fall

Ethereum tumbled to $3,534 after the Fed left interest rates unchanged. With momentum fading and BTC leading the drop, ETH is under pressure. Will $3.2K hold next?

Rudy Fares

Rudy Fares

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Categories: Ethereumethereum crasheth coin

What Triggered the Ethereum Crash?

Ethereum mirrored Bitcoin’s rejection, sliding from the $3,800–$3,900 zone after failing to generate new momentum. The Fed’s unchanged rate stance disappointed risk-on investors, and ETH lost over 4.6% in 24h, now testing the $3.5K support level.

ETH Coin Price Chart Breakdown

ETHUSD_2025-08-02_00-20-06.png

ETH/USD 4-hours chart - TradingView

  • ETH broke below both the 9 and 21 EMA, signaling trend weakness
  • Horizontal support at $3,530 is being tested
  • RSI at 29.50, suggesting short-term exhaustion
  • Clear rejection from $3,800 zone, now a strong resistance
OKX-McLaren-Promo

What to Watch Next for ETH

  • If $3,500 fails, look for support near $3,200, which was a previous accumulation zone.
  • Bulls need a strong push back toward $3,739–$3,800 to recover the uptrend.
  • A continued drop in Bitcoin could send ETH below $3.2K.

Watch ETH/BTC ratio – if ETH continues underperforming, it might signal broader altcoin weakness.

 

$ETH, $Ethereum

Rudy Fares
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Rudy Fares

Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.

Regular updates on Web3, NFTs, Bitcoin & Price forecasts.

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