The video discusses Ethereum's recent price action, noting a push down during the Asian session. It highlights the cryptocurrency's relative weakness compared to XRP, Solana, and Bitcoin. The analyst expects a further drop to around $3900-3800, near the 90-day rolling VWAP, a major support level and 0.382 Fib level. He draws a path where the price will have a descending channel pattern and find some support around the 3900 price range. The analysis notes a shift in how the Asian session treats Ethereum. There is bearish sentiment and fear in the market, the analyst says there are articles coming out saying that ETH is Luna 2.0. 3800 will be the main target price and support, and expect a local bottom in that area.