Just looking at ethereum news and wow, what a shift from that August 2025 hype. ETH was flirting with $4K back then, and everyone thought we'd see $4.4-4.5K before year-end. Now we're sitting at $2.32K in April 2026—that's a brutal correction from those highs. But here's what caught my attention: the technical structure that looked so solid then has completely reset.

Back in summer 2025, ethereum was trading above all its major moving averages with RSI in the 80s and MACD staying bullish. The story was institutional money flowing in through spot ETFs, staking activity picking up, and everyone talking about the Dencun upgrade improving Layer 2 efficiency. Looked pretty convincing at the time. But volatility did exactly what the cautious analysts warned about—the 50% July rally attracted profit-takers, and macro headwinds hit hard. That $3,600 support that was supposed to hold? Got broken. Then $3,300. And we kept sliding.

Now I'm watching to see if ethereum can find a floor around current levels or if there's more downside. The institutional story didn't disappear—staking is still active, the network fundamentals haven't changed—but sentiment clearly shifted. August 2025 was supposed to be the month that confirmed the bull case. Instead, it turned out to be a warning signal that got ignored. Curious if we're setting up for a real reversal or just bouncing in a downtrend. Either way, ethereum news cycles move fast in this market.