Ethereum’s native token Ether (ETH) demonstrated relative strength during one of the most chaotic days in crypto market history, falling just 6.7% over the past 24 hours compared to the catastrophic losses suffered by altcoins—some of which plunged more than 95% in Friday’s crash.

The violent sell-off followed U.S. President Donald Trump’s announcement of a 100% tariff on Chinese imports, which triggered a global market panic and a wave of forced liquidations across exchanges. According to data from CoinGlass, nearly 1.6 million traders were wiped out within hours, with total liquidations exceeding $20 billion — the largest in crypto history.

Related reporting: Ether correction nearing end, $5.5K breakout ahead: Fundstrat’s Mark Newton

Ethereum price action and analysis. Source: TradingView

ETH briefly fell to $3,510, losing over 20% intraday, before bouncing back above $3,800. The rebound occurred after testing the 200-day exponential moving average (EMA) — a key long-term support level often used to gauge market sentiment. Meanwhile, Ethereum’s Relative Strength Index (RSI) dropped to 35, indicating near-oversold conditions that could hint at a short-term recovery.

Veteran trader and Ethereum advocate Anthony Sassano (Sassal) noted that Bitcoin and Ether showed remarkable resilience compared to the broader altcoin market:

“BTC and ETH did relatively well compared to the long-tail of alts, which nuked 70% or more, with some even going down 95% or more. I'm not usually into conspiracies, but clearly this was not normal market behavior.”

Analysts Expect ETH to Rebound Toward $5,500 — But Sell Pressure Looms

Despite the market turmoil, analysts at Fundstrat Global Advisors believe Ethereum remains on track for a potential rally to $5,500, once the market stabilizes from the recent shock. The firm’s managing director, Mark Newton, said Ether had likely “bottomed out” over the weekend and could resume its upward trend as long as it holds above $3,500.

Still, data from CryptoQuant suggests caution. The Ethereum exchange inflow mean — which tracks the average size of ETH deposits onto exchanges — reached 79 on Saturday, the highest in 2025. Elevated exchange inflows often indicate that investors are preparing to sell, introducing potential downward pressure on prices.

Ether exchange inflow mean hits highest level recoded in 2025. Source: CryptoQuant

At the same time, Ethereum’s staking withdrawals have surged. More than $10 billion worth of ETH was queued for withdrawal in October, according to Nansen, raising speculation that some validators may cash out amid volatility. However, Nansen analysts emphasized that not all withdrawals translate into immediate selling pressure, noting that many stakers may simply be repositioning assets for better yield opportunities.

Market Outlook

ETH currently trades around $3,820, down roughly 22% from its all-time high of $4,957 set in August. Despite the recent crash, analysts say Ethereum’s on-chain fundamentals — including staking participation, institutional adoption, and Layer-2 growth — remain intact.

With the market now recalibrating after what many traders have dubbed “Crypto’s Black Monday,” attention will turn to whether Ethereum can maintain its key support levels and lead the next phase of recovery.