Ethereum experienced one of its sharpest downturns in recent years, plummeting briefly to $1,500 in June 2026. This marks a staggering 70 percent decline from its all-time high of $4,953 recorded in August 2025. The price then rebounded above $1,620, fueling debates across the market on whether this level represents a true bottom or if a deeper slide toward $1,000 is on the horizon.
Main triggers behind the decline
Multiple factors were at play in driving the recent sell-off. Strong U.S. employment data diminished expectations of an imminent Federal Reserve rate cut. At the same time, rising geopolitical tensions between the U.S. and Iran further dampened risk appetite. Large-scale outflows from spot Bitcoin ETFs were mirrored by similar withdrawals from Ethereum ETFs. Amid this turmoil, over $1 billion in leveraged crypto positions was liquidated, with long ETH positions bearing the brunt.
Ethereum sank to $1,500 in June 2026, retreating nearly 70 percent from its August 2025 high of $4,953. The coin later saw a limited recovery above $1,620.
Backed by the Ethereum Foundation, the Ethereum network remains the largest blockchain for smart contracts and decentralized applications. As a result, volatility in ETH pricing reverberates not only in spot markets but throughout the wider crypto ecosystem.
Why Ethereum’s drop surpassed Bitcoin’s
While Bitcoin’s correction was contained at around 50 percent during the same period, Ethereum’s decline was notably more intense. Analysts attribute this to ETH’s inherently higher volatility, a protracted weakening in the ETH/BTC ratio, and the relatively lukewarm institutional demand for Ethereum ETFs compared to their Bitcoin counterparts.
Leverage also accelerated ETH’s slide. The concentration of long positions in Ethereum heightened the wave of liquidations in June, amplifying downward pressure and sending the price lower in a short span.
Crypto analyst Crypto Patel cautioned against panic selling and revealed that he personally accumulates ETH gradually between $1,550 and $1,000, recognizing that predicting the absolute bottom is nearly impossible.
On social media, Crypto Patel suggested that in a worst-case scenario, Ethereum could reach $1,000, yet maintains conviction that a long-term rally toward $10,000 to $20,000 remains possible. He also predicted a new surge in the altcoin market may emerge between 2026 and 2027.
Key support and resistance levels
Following the rebound from $1,500, ETH is now struggling to hold above its 100-hour moving average. Immediate resistance sits at $1,700, with a more critical barrier at $1,750. This latter level coincides with the 50 percent Fibonacci retracement of the prior drop from $2,005 to $1,505.
Mini glossary: Fibonacci retracement is a tool in technical analysis used to gauge which price levels might act as pauses or reversals after a sharp move. Investors often track these points as potential support or resistance areas.
Should ETH surpass $1,750, watch for resistance at $1,800 and $1,885, while $2,000 remains a critical psychological level. If upward momentum falters, $1,620 and $1,600 may emerge as fresh support zones, and below that, $1,500 stands out as the primary floor.
| Asset/level | Data | Significance |
|---|---|---|
| Ethereum peak | $4,953, August 2025 | Reference point |
| Ethereum trough | $1,500, June 2026 | Key support zone |
| Near resistance | $1,700 and $1,750 | Crucial for rebound |
ETH’s impact on institutional balance sheets
Holdings of ETH on corporate treasury balances are also drawing attention. BitMine reportedly faces nearly $9.58 billion in unrealized ETH losses, while SharpLink has around $1.59 billion. Neither company indicated plans for forced sales, yet these figures illustrate the scale of risk such corrections present to corporate balance sheets.
As of early June 2026, ETH traded near $1,620, with buying interest seeking to keep prices above $1,600. Going forward, the direction for Ethereum is expected to hinge on both Bitcoin’s performance and the ETH/BTC price ratio.
