Ethereum Faces Risk of Breaking Below $1,900, Is $1,750 the Bottom?

▲ Ethereum (ETH) ©

Ethereum (ETH) is showing a precarious trend, threatening the $1,900 level as it is swept up in extreme fear that has gripped the broader market. With risk aversion intensifying, even the leading altcoin is struggling in tandem with Bitcoin’s sharp decline.

According to CoinMarketCap on February 12 (local time), Ethereum fell 2.76% over the past 24 hours to trade at $1,919.26. This movement aligns with Bitcoin (BTC), which plunged 3.86%, as widespread selling pressure pushed the total cryptocurrency market capitalization down 2.73%. The Crypto Fear & Greed Index stood at 8, remaining in the “Extreme Fear” zone and underscoring deep investor anxiety.

Derivatives markets and technical indicators also confirm mounting downside pressure. The perpetual futures funding rate recorded negative 0.0011882%, indicating that short positions betting on further declines are dominant. Technically, Ethereum is trading below its 7-day simple moving average of $2,018.3, while the Relative Strength Index (RSI) has dropped to 28.51, signaling oversold conditions but still trapped within a strong downtrend.

Ethereum is currently testing support in the $1,900 to $1,920 range. In the short term, the daily pivot point at $1,958.24 serves as the first resistance level. Failure to reclaim this price zone could lead to a continuation of the downtrend. Market observers note that whether Bitcoin can establish a floor around $65,000 will be crucial in preventing further declines in Ethereum.

If market fear persists and selling pressure intensifies with higher trading volume, a breakdown below the $1,900 support level could accelerate losses. Experts warn that in such a scenario, Ethereum could fall toward $1,750, near the Fibonacci swing low, and advise closely monitoring whether the $1,958 pivot point can be reclaimed.

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