Ethereum Falls 45% to $2,650 as Analysts Project $8,800 Target on Key Support

Ethereum has declined 45% from its August 2025 peak near $4,950 to $2,650, now trading within a critical technical support zone. Analysts project a potential rally to $8,800 if current levels hold, citing revised Elliott Wave patterns and Fibonacci retracement levels. Daily trading volume stands at $50.3 billion, with the asset down 10% in 24 hours and nearly 15% over the past week.