Ether’s (ETH) rally stalled tardy Monday just above $2,000 due to stiff overhead resistance as the technical setup suggested downside momentum would enhance if the ETH/USD pair breaks below $1,800.
Key takeaways:
-
The ETH price must stay above $1,800 to avoid another decline.
-
Bearish Ether charts and onchain indicators are converging for ETH prices to fall below $1,500.
ETH Price: $1,800 remains a key level to watch
Heat map of Ether distribution based on costs can be seen robust support recently established around $1,800. This is where approximately 1.23 million ETH was purchased over the last 30 days at an average price of $1,890.
This area currently represents robust support for ETH which, if broken, will likely result in a retest of the price at the February lows.
Related: Ether is down 60% from its 2025 high, but TradFi is still betting on ETH: here’s why
CoinGlass data can be seen compact liquidations of over $120 million in the last two days, eliminating leverage. Currently, the $624 million cumulative long liquidation exposure exceeds $1,800, creating a pocket of liquidity below the spot price.
CryptoQuant analyst Maartunn spotted 67,000 ETH worth approximately $130 million sitting just below the spot price, reinforcing the importance of this support zone.
ETH Price Triangle Pattern Targeting Below $1,500
From a technical point of view, the $1,800-1,900 support zone coincides with the lower trend line of the symmetrical triangle on the daily chart.
If the bearish momentum continues, the ETH/USD pair could drop below the lower boundary of the triangle at $1,850 to test the support at $1,750, a multi-year low reached on February 6.
Below this value, ETH may fall towards the measured triangle target of $1,400, or 28% below the current price.
Meanwhile, Ether price bands with extreme MVRV deviation suggest that the ETH price still has a chance to decline before the unrealized profit held by investors reaches the extreme level of around $1,650, as shown in the chart below.
During previous bear markets, ETH has always traded below the low of the MVRV band, as seen in 2018 and 2022.
If this happens again, the ETH price floor could fall below $1,650 in the current cycle, coinciding with the symmetrical triangle target mentioned above.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide correct and up-to-date information, Cointelegraph does not guarantee the accuracy, completeness or reliability of any information contained in this article. This article may contain forward-looking statements that involve risks and uncertainties. Cointelegraph is not liable for any loss or damage arising from your reliance on this information.
