Ethereum (ETH) fell to a 14-month low as analysts warned that a failed support test could expose $1,000.
Key Points:
- Ethereum slid toward the low $1,500s after months of broad altcoin weakness.
- Analysts are watching whether ETH can reclaim the $1,584 to $1,683 volume block.
- Downside targets now cluster near $1,237, $1,200 and $1,089 if support fails.
Ethereum Support
ETH’s decline came as major altcoins stayed under pressure and the Ethereum Foundation faced fresh strain, with Hsiao-Wei Wang leaving as co-executive director and board member.
The foundation also cut its workforce by 20%, adding to concern as ETH fell to just above $1,500 and its market value briefly slipped below $183 billion.
That drop allowed Tether’s USDT (USDT) to overtake Ethereum for the second spot by market capitalization, though ETH later reclaimed the ranking with only a narrow lead.
Analyst Ali Martinez said Ethereum had traded inside a key volume block between $1,584 and $1,683, where almost 4 million coins changed hands, and he said holding that area could reopen targets at $1,980 and $2,079. He warned that losing it could push ETH toward $1,237 and $1,089.
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ETH Forecasts
X user Ryker projected a fall to $1,260 before a possible rally above $3,000, while Merlijn The Trader noted that Ryker is the only trader followed by Changpeng Zhao on X. Earlier this month, Ted said ETH could bottom before Bitcoin (BTC), with downside liquidity mostly cleared.
Ted pointed to $1,300 to $1,400 as a likely range, while Niels expected a move toward $1,200 sometime this year. Whale activity has strengthened the bearish case, with Max Crypto citing a $68 million ETH short position using 23x leverage and Justin Wu saying four older wallets had begun selling.
Those moves matter because large wallets can affect sentiment when liquidity is thin, especially during sharp declines. Ethereum’s latest slide extends a weak phase that pushed the token to its lowest level in 14 months, narrowed its lead over USDT and turned the $1,500 area into the market’s immediate stress point.
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