Ethereum prices were one of the best performances in the cryptocurrency market in the third quarter, reaching a new all-time high at the end of August. However, the second-largest cryptocurrency is struggling to build on the momentum of this record setting in September.
With September and the third quarter of 2025 nearly complete, Ethereum prices seem to be struggling to regain a psychological $4,000 support level. Below are some important support levels to keep in mind Deeper correction Occurs according to the latest on-chain data.
Is $3,500 the next stop for ETH prices?
Popular Crypto analyst Ali Martinez in a September 27 post on X Platform It will be identified Three main levels of support to monitor whether Ethereum prices will drop further in the coming weeks. This on-chain observation revolves around UTXO Realized Price Distribution (URPD) metrics and estimates the amount of a given cryptocurrency acquired at a particular price level.
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This indicator examines price-level capacity and acts as an on-chain support or resistance zone. This usually depends on the number of costs-based investors at a specified level. The investor’s cost base refers to the original price at which the cryptocurrency was purchased (in this scenario, ether).
Based on cost-based theory, the main support zones are often at the price level. Important purchasing activities– Responsible for the current spot value. Because they purchased assets at these prices, some investors tend to double their assets if the price is floating when they return to a cost base.
According to data highlighted by Martinez, the next major support level for Ethereum prices is around $3,515, $3,020, $2,772. As observed in the chart below, if the price of the ETH is not incredibly close to more than $4,000, the next immediate support cushion was around $3,515, with nearly 1.39 billion coins purchased.
If the “King of Altcoins” cannot stop bleeding, UTXO realizes price distribution metrics The next major support was $3,020, indicating that around 2.65 billion coins have been purchased. Currently, the last significant support for Ethereum prices is around $2,772, a cost basis for over 2.644 billion ether tokens.
Ethereum prices are at a glance
At the time of writing, ETH priced around $3,994, not reflecting any significant movements over the past 24 hours. The largest Altcoin by market capitalization appears to be stuck at the major level of $4,000, but performance over the past week is still very worrying. According to Coingecko data, Ethereum prices have fallen by more than 10% in the past seven days.
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ShutterStock featured images, TradingView charts
