Ethereum Breaks Key Psychological Support... Warning Signs of Further Drop to $1,500

▲ Ethereum (ETH)

Ethereum (ETH) has fallen below the psychological support level of $2,100, intensifying short-term downward pressure. Amid fears of further declines due to a breakdown in technical structure, some analysts suggest the possibility of a rebound, noting that patterns similar to those seen just before past surges are reappearing.

According to NewsBTC, Ethereum recently confirmed a structural breakdown by falling below the key daily support range between $2,300 and $2,100. Crypto analyst Crypto Candy stated, “The support zone that had been acting as a strong area of demand and absorbing selling pressure has collapsed,” adding that “this indicates an overall weakening of the market structure.”

With the support level broken, the zone has now turned into strong resistance. Ethereum has attempted several times to reclaim the $2,100 to $2,300 range but failed to establish footing due to heavy selling pressure. If downward pressure persists, the next major support range is expected to lie between $1,700 and $1,500. For now, bearish market sentiment remains valid unless Ethereum can stabilize above $2,300.

However, from a longer-term perspective, some analysts maintain a bullish outlook. Well-known trader Trader Tardigrade claims that Ethereum’s current weekly chart shows a fractal structure very similar to the period just before the major rally in late 2025. At that time, Ethereum consolidated within a horizontal range, building energy before recording an explosive surge.

The rectangular range pattern currently identified is positioned within an ascending channel at a location similar to that seen prior to the previous breakout. This structural symmetry supports the possibility that the current consolidation phase is an accumulation stage preparing for a new rally rather than mere sideways movement. As in past cases, the longer the price compression period lasts, the stronger the upward momentum could be upon breakout.

Ultimately, Ethereum’s direction hinges on whether it can break out of the current range and move back above $2,300. Market participants are closely watching its next move, weighing the risk of further declines following the recent support breakdown against the potential for a major surge if past patterns repeat.

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