Analysts Say Ethereum Price Must Hold $1.8K to Avoid Breakdown
Ethereum price must maintain support above $1,800 to prevent a significant drop, with technical patterns targeting sub-$1,500.Summary
Ether's (ETH) rally stalled near $2,000, and analysts warn that the price must hold above the critical $1,800 support level to avoid a further breakdown. This support zone is reinforced by recent cost-basis distribution, where 1.23 million ETH were acquired around $1,890. A break below $1,800 could lead to a retest of February's lows, potentially targeting the multi-year low of $1,750.
Technically, the $1,800-$1,900 zone aligns with the lower trend line of a symmetrical triangle pattern on the daily chart. If this boundary breaks, the measured target for the triangle pattern suggests ETH could fall toward $1,400. Furthermore, on-chain metrics like the MVRV extreme deviation bands suggest ETH could bottom below $1,650 during this cycle, aligning with the triangle target.
Overhead leverage has been partially cleared by over $120 million in short liquidations, but significant long liquidation exposure remains above $1,800, reinforcing the importance of this price level.
(Source：Cointelegraph)