Ether (ETH) is down 30% in the last seven days, falling to $1,900 from $2,800. The decline was accompanied by a keen drop in activity on futures contracts, including: Open interest in ether dropped by more than $15 billion over the same period.

Analysts are currently focusing on long-term technical zones and onchain indicators that could signal a major inflection point for the ETH price.

Key takeaways:

• Ether fell 30% in seven days, falling below the psychological level of $2,000.

• Yesterday’s ETH price crash is now focused on the $1,000-$1,400 price range.

ETH is falling along with the cryptocurrency market

The ETH/USD pair fell below $2,000 for the first time since May 2025, hitting a nine-month low of $1,740 on Friday. While Ether has since risen to $1,900 at the time of writing, it has suffered the steepest weekly decline of 30% among the highest-cap cryptocurrencies.

Related: Trend Research throws out over 400,000. ETH as liquidation risk increases

Bitcoin (BTC), the market leader, was trading at $66,340 at the time of writing, down 21% over the past seven days. Fifth-ranked XRP (XRP) has lost more than 21% over the past week, trading just above $1.37. Solana (SOL) also saw significant losses among the top 10 cryptocurrencies, down 29% over the same period.

As a result, the capitalization of the global cryptocurrency market fell by 20% during the week, reaching $2.23 trillion on Friday.

This week’s drop in Ether prices is accompanied by significant long liquidations over the past 24 hours totaling $400 million, signaling bulky selling by traders.

US spot Ether ETFs were also sellers, with net outflows of $1.1 billion over the past two weeks.

Combined with increased selling from other major ETH holders such as Trend Research and Ethereum co-founder Vitalik Buterin, this indicates unrelenting general pressure that could drive the ETH price down.

How low can the ETH price go?

Ether’s bearish trend over the past two weeks has seen it miss two key support levels, including the 200-week uncomplicated moving average (SMA) and the psychological levels of $3,000 and $2,000.

The last time ETH decisively dropped below the 200-week SMA was in March 2025, after which the price dropped 45%.

If history repeats itself, the ETH/USD pair will extend the downtrend towards $1,400.

This level aligns with the bearish target of the inverse V-shaped pattern at $1,385, which is down 28% from the current price.

As reported by Cointelegraph, the inverse cup and handle pattern places a downside target at $1,665, while MVRV bands point to a target at $1,725.

Onchain analytics platform Lookonchain has identified three main liquidation zones around $1,500, $1,300 and $1,000, which could act as a magnet for the Ether price ahead of a potential bottom.

Glassnode’s UTXO has implemented a price distribution (URPD), showing the average prices at which SOL holders purchased their coins, discovers that the size of the previous volume below $1,900 is diminutive. In other words, buyers may not step in before the price drops to the above-mentioned support levels.

The next significant support is located at the $1,200 level, where approximately 1.5 million ETH was previously purchased.