TL;DRETH lost $4,100 support, triggering fears of further downside toward the $2,750 level.MVRV bands suggest $4,840 must break to confirm recovery; failure risks deeper correction.Price action mirrors 2020 fractal, but bulls must reclaim resistance to avoid extended pullback.Ethereum Slips Below Crucial Support ZoneEthereum (ETH) has dropped below the key $4,100 level, breaking down from its recent range and putting bullish momentum on pause. The move follows a sharp correction of nearly 20% over the past two weeks. At the time of writing, ETH trades around $3,900, marking a weekly decline of over 12%.Analyst Daan Crypto Trades noted the importance of the $4,090 level as a cycle high. “If the weekly closes below the ~$4.1K level,” he stated, “watch closely if there’s additional continuation down over the days and weeks following it.” He added that the current move could represent a false breakout, but confirmation would only come if the price starts grinding back up.Source: Daan Crypto Trades/XA separate chart shared by Trader Tardigrade shows a repeating fractal structure when comparing ETH’s current price pattern to the 2020 cycle. It reflects a V-shaped recovery followed by consolidation below key resistance, similar to the lead-up to Ethereum’s breakout in the previous bull market.The asset is currently sitting just below the $4,100 zone, which matches the resistance level shown in the earlier cycle. The setup suggests that if ETH follows the same path, a breakout could follow. However, that would require a clean move above resistance and sustained buying. Trader Tardigrade posted,$ETH/3-day#Ethereum is gathering momentum for an upcoming Massive Surge pic.twitter.com/lzCqxqYFe7— Trader Tardigrade (@TATrader_Alan) September 26, 2025Support Retest Around 20-Week MAMichaël van de Poppe identified the current zone between $3,800 and $4,000 as an important area of support. ETH is now approaching the 20-week moving average, which has often acted as a dynamic support level in previous uptrends.To me, this is the ideal zone to start accumulating positions in $ETH.It’s a higher timeframe support test and approaching the 20-Week MA. pic.twitter.com/X0qwGE8oho— Michaël van de Poppe (@CryptoMichNL) September 26, 2025The weekly chart he shared shows a support block that had previously acted as a base for upward moves. If the zone holds, it could stabilize the price. If not, lower levels around $2,850 may be tested.MVRV Bands Point to Key Resistance and Downside RiskAli Martinez used the MVRV Extreme Deviation Pricing Bands to mark the next areas of interest. He noted that $4,840 is the critical level to break in order to reverse the current downtrend. According to the MVRV model, a move above this line could lead to a push toward $5,860.On the downside, Ali warned that failure to reclaim this level could bring ETH back to $2,750, aligning with the -0.5σ deviation band.“Fail, and a correction to $2,750 comes into play,” he wrote.ETH currently trades above the MVRV mean at $3,797, but if that level is lost, downside pressure may increase.The post ETH Bulls Crushed as Price Drops Below Crucial Level appeared first on CryptoPotato.