Ethereum Price Analysis: ETH Crashes 10% Weekly – How Low Can It Go?
Key Summary
Ethereum's price has fallen sharply after failing to clear the $2.68K-$2.77K resistance zone, weakening short-term structure and leaving buyers defending support areas below. Despite this, the asset remains above major moving averages and a constructive longer-term backdrop, with a potential confluence of support areas and a restored bullish outlook possible if buyers can stabilize the price.
Weekly Analysis
Ethereum's prolonged consolidation beneath resistance has pushed the asset lower, sending it toward $2.42K. The breakdown has weakened short-term structure, while the broader recovery now depends on buyers defending the support areas below. Ethereum remains above both major moving averages, with the 100-day average near $2.21K crossing above the 200-day average around $2.13K, preserving a constructive longer-term backdrop despite the current correction.
Daily Chart Analysis
The daily timeframe shows Ethereum falling sharply after repeatedly failing to clear the $2.68K-$2.77K resistance zone. Momentum has also deteriorated, with the daily RSI dropping to approximately 44 and moving below neutral. However, a highlighted demand zone between $2.36K-$2.42K could provide support, with an ascending trendline approaching this region.
4-Hour Chart Analysis
The 4-hour chart shows a decisive bearish break from a symmetrical triangle, with Ethereum falling beneath the lower boundary near $2.68K and extending its decline toward $2.42K. The limited rebound suggests that buyers have yet to establish a convincing recovery.
Sentiment Analysis
The two-week Binance ETH/USDT liquidation heatmap shows that the latest decline has moved through the previously dense estimated liquidation bands around $2.6K-$2.65K. These bands fade behind the falling price, consistent with leveraged positions being cleared as Ethereum moved lower. A sustained recovery could bring the liquidation distribution into focus, but the current technical breakdown favors caution until Ethereum reclaims its lost support.