The price of Ethereum has continued its downward trajectory after failing to hold key support zones. Within the last 24 hours, ETH slid by 5.89 percent to trade near $1,680. Analysts warn that losing the critical $1,825 support has damaged the short-term outlook, making the $1,600 and $1,400 price levels relevant again.
Support breach adds to downside risks
From a technical perspective, the most notable shift is the breakdown below the $1,825 level, which previously acted as a strong floor. The market sees this breach as evidence that the short-term structure has turned bearish. With $1,825 now acting as resistance, buyers are expected to make their first solid stand around the $1,600 zone.
Analyst Ali Charts has noted that Ethereum’s three-day chart now sits below $1,825, highlighting the next significant areas at approximately $1,603 and $1,409.
This doesn’t necessarily mean the price will immediately plummet to $1,400. However, if buying interest remains weak, Ethereum could test even lower-liquidity areas. Notably, if the $1,600 threshold also fails, a drop toward $1,400 becomes a more prominent scenario.
Key price levels and what they signal
| Level | Technical significance |
|---|---|
| $1,825 | Lost former support, now resistance |
| $1,603 | Next closely watched support area |
| $1,409 | Key area in deeper pullbacks |
RSI indicator enters extreme oversold territory
As downward price pressure continues, momentum indicators are flashing signals of excessive selling on the market. Daily Relative Strength Index (RSI) readings have plummeted to 18.45 in one chart and about 22.53 in another, reflecting one of the weakest conditions for Ethereum observed in recent years.
Mini glossary: RSI, or Relative Strength Index, is a technical indicator that measures the speed and strength of price movements. Generally, an RSI below 30 signals oversold conditions, while a reading above 70 indicates overbought.
In an analysis shared by Max Crypto, Ethereum’s daily RSI has entered its deepest oversold territory in more than seven years.
Shared charts compare the current situation with the COVID-19 crash and the sharp post-FTX selloff periods. Although such phases point to strong downward pressure, some investors see these conditions as periods when sellers may be losing momentum.
Macro weakness continues as staking activity stands out
On broader timeframes, Ethereum has broken below its rising channel structure, confirming larger-scale weakness. Some interpretations frame this movement as part of a potential ABC corrective pattern, with the likely accumulation zone between $1,400 and $1,600.
On-chain data, however, paints a different picture. According to figures from BSCN, about 3.10 million ETH—equal to roughly $5.45 billion—is queued to be staked, while only 49,738 ETH awaits unstaking.
This contrast suggests that long-term investors are not rushing to exit the network. Despite short-term price stress, the fact that staking deposits far outnumber withdrawals indicates that longer-term confidence has not entirely faded.
All eyes on $1,600 in the short term
For now, the short-term outlook for Ethereum remains fragile. As long as the price stays below $1,825 and is unable to retake $1,750, the $1,600 and $1,400 targets remain technically viable. On the other hand, if buyers can mount a strong defense around $1,600, a rebound toward the $1,750 to $1,825 range is possible.
