Ethereum (ETH) experienced a significant sell-off, dropping to its lowest level since mid-July as bearish sentiment continues to grip the crypto market.

Key Price Action (as of 5 p.m. ET on Kraken):

• Price: $2,988.74
• Daily Change: -$108.40 (-3.50%)

Market Context & Performance Metrics:

• Recent Weakness: Today's decline marks the sixth down day in the past seven trading sessions.
• Sharp Monthly Decline: ETH is down 22.56% for the month of November, highlighting a pronounced corrective phase.
• Year-to-Date Loss: The asset remains in negative territory for 2025, down 10.64% year-to-date.
• Distance from Peak: Ethereum is currently trading 39.69% below its all-time intraday high of $4,955.23, set on August 24, 2025.

Technical Levels and Lows:

• The session's intraday low was $2,871.31, representing a 7.29% drop from the previous day's close. This was the lowest intraday level since July 11, 2025.
• Despite the recent downturn, ETH maintains a significant gain of 106.89% from its 52-week low of $1,387.85, hit on April 9, 2025.

Today's drop represents the largest single-day percentage decrease since November 13, 2025, solidifying a bearish short-term trend for the second-largest cryptocurrency.