Key takeaways:
Ether’s price fell 8% to $3,940 on Tuesday, leading to $115 million in long ETH liquidations.
A bullish flag on the weekly chart indicates a target of $10,000, provided that bulls maintain the $3,800 support level.
Ether (ETH) experienced a decline on Tuesday, dropping over 8% from Monday’s peak above $4,300 to $3,940. Despite this dip, traders are optimistic about a potential ETH rebound as long as significant support levels are sustained.
Ether erases $115 million in long ETH positions
Today’s bearish trend in Ether was accompanied by major liquidations throughout the crypto space.
According to data from CoinGlass, over $650 million in leveraged crypto positions have been liquidated in the last 24 hours, with $455 million coming from long liquidations.
Related: BitMine adds over 200K ETH in aggressive post-crash weekend buying
Long Ether liquidations totaled $114.5 million, with figures still rising at the time of this report.
This means that long traders were unprepared for Ether’s decline below $4,000. The largest single liquidation order was on the OKX crypto exchange, involving an ETH/USD pair valued at $5.5 million.
The CoinGlass liquidation heatmap indicated multiple zones of buyer interest below the current price, with bid orders amounting to over $743 million between $3,670 and $3,800, suggesting that the ongoing correction may be limited at this range.
Is Ether’s uptrend finished?
Market analysts believe that the ETH price is experiencing a technical correction to test critical support levels before potentially resuming its uptrend.
MN Capital founder Michael van de Poppe noted that Sunday’s decline saw the ETH/BTC pair drop to 0.032, which he termed an “ideal zone for buys.”
“$ETH reached the ideal buying zone and I think it’s poised for a trend reversal,” van de Poppe expressed in a post on Tuesday, adding:
“It needs a higher low, then we’ll be heading toward new highs.”
Another analyst, Daan Crypto Trades noted that while the 0.032 level has “held well,” the ETH/BTC pair requires a breakthrough above 0.041 to maintain the upward trend.
Evaluating the ETH/USD pair, Titan of Crypto highlighted that the relative strength index, or RSI, has broken out of a multi-year downtrend, signaling that a significant breakout may be on the horizon.
If the fractal mirrors that of July 2020, Ether’s price could continue its upward trajectory with targets between $8,000 and $10,300, according to Fibonacci levels.
“#ETH breakout is imminent.”
#ETH breakout is nearing…
And it might surprise many pic.twitter.com/PPT2MXHd4H
— Titan of Crypto (@Washigorira) October 13, 2025
According to pseudonymous analyst Chimp of the North, Ether’s downside might be limited to $3,800.
The analyst provided a chart indicating that the altcoin might retrace to test the $3,800 support level before potentially rallying toward $5,000 and beyond.
As previously reported by Cointelegraph, ETH could rebound to $4,500 within the next few days assuming Ethereum futures markets stabilize following Friday’s crypto flash crash.
Ether’s bull flag points to $10,000
From a technical standpoint, the price of ETH remains within a bull flag pattern on the weekly time frame, a bullish formation that emerges after price consolidates in a downward-sloping channel following a swift price increase.
Ether is currently testing the flag’s lower boundary, now at $3,870, which is serving as immediate support.
The bull flag will conclude once the price surmounts the upper trendline at $4,440, paving the way for an upward trend toward the bull flag’s technical target of $10,050 — a rise of 164% from the current levels.
On the other hand, the RSI has decreased from 74 to 54 over the past seven weeks, suggesting that the ongoing correction may persist as profit-taking continues.
A daily close below the support level at $3,800 could put Ether’s price at risk of first dropping to the 20-week SMA at $3,700 and subsequently to $3,500.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making any decisions.
