Ethereum (ETH) is exhibiting a notable bearish trend, having dropped from the $4,050 zone to around $3,789.
The consistent downward movement suggests sellers remain in control despite minor recovery attempts.
If momentum weakens further, ETH could retest the $3,700 support before any potential rebound.
At the time of writing, the token was trading at $3,785.15, reflecting a modest 6.71% decline over the past 24 hours.
Source: CoinMarketCap
Recent data, as per analyst Ali Martinez, Ethereum is currently positioned at a critical juncture, trading near the $4,100 zone after facing strong resistance around $4,200.
The chart highlights a key resistance range between $4,200 and $4,800, where previous rallies have consistently stalled.
This area represents a significant supply zone where selling pressure tends to intensify, preventing ETH from breaking higher.
Until bulls manage to reclaim and hold above $4,200 with strong volume, upward momentum is likely to remain limited, keeping Ethereum in a consolidation phase.
On the downside, Martinez identified the $3,500 region as crucial support, serving as the lower boundary of the current trading range.
A breakdown below this level could trigger a deeper correction, potentially leading to a retest of earlier lows.
Conversely, if Ethereum maintains support above $3,800 and gains enough strength to push past $4,200, it could pave the way for a move toward $4,800.
In essence, the chart suggests Ethereum is caught between two decisive price points — $3,500 and $4,800 — with its next move likely determining the broader market direction.
Ethereum leads in new developer growth for 2025
Ethereum has dominated the blockchain development landscape in 2025, attracting over 16,000 new developers, according to data from Electric Capital.
This figure places it far ahead of other ecosystems such as Solana (11,534) and Bitcoin (7,494).
Ethereum’s growth reflects its strong developer community, extensive infrastructure, and expanding network of Layer 2 rollups, which make it an attractive platform for innovation.
The combination of scalability improvements, mature developer tools, and a robust DeFi and NFT ecosystem continues to drive developer interest and commitment to Ethereum.
Source: X
Meanwhile, Solana and Bitcoin hold the second and third positions, respectively, showcasing steady developer engagement despite Ethereum’s lead.
Other ecosystems such as Polygon, Stacks, Sui, and Internet Computer are also experiencing moderate growth, signaling diversification across the blockchain space.
However, Ethereum’s continued ability to attract the largest number of new contributors underscores its status as the leading smart contract platform. It also remains a central hub for blockchain innovation in 2025.