ETH fell about 6.7%, relatively resilient during "Black Monday"

According to Mars Finance, on October 12, Ethereum (ETH) fell by about 6.7% in the past 24 hours, showing stronger resistance to falling than many alts.

The massive crash on Friday caused some alts to fall more than 95%, leading to extreme sell-offs.

The recent market crash was triggered by the tariff announcement by the U.S. President, with the price of ETH dropping to around $3,510 in a single day, a decline of over 20%.

At the lowest point, the price rebounded after touching the 200-day Exponential Moving Average (EMA) support level, temporarily rising to the 3,800+ dollar range.

In terms of technical indicators, the Relative Strength Index ( RSI ) is close to 35 points, approaching the oversold zone, indicating a possibility of some technical correction.

The scale of forced liquidation events triggered by this major fall is unprecedented, with nearly 1.6 million traders liquidated within 24 hours.

The amount of Ethereum flowing into exchanges (i.e., a potential selling pressure signal) has reached its highest level since 2025.

Meanwhile, the cumulative amount of Ethereum staking withdrawal queue has exceeded 10 billion USD, which may indicate that stakers are preparing to exit and sell, further increasing selling pressure.

Analysis firm Fundstrat expects that ETH may rebound to a new high of $5,550 after hitting the bottom.

However, if the selling pressure continues and buying demand is weak, the price may be blocked at a high level, making it difficult to sustain an upward trend.