Over the past week, the Ether price will fall significantly as it recorded a 30% decline, currently sitting in the $1,900 range. This massive correction, confirmed by CoinMarketCap data, has evaporated over $15 billion in open interest, reflecting a clear capitulation by retail investors in the market.
The asset’s sudden crash, which reached nine-month lows of $1,740 last Friday, has dragged down the global market, whose capitalization dropped by 20%. Nonetheless, despite recovery attempts, bearish sentiment persists because the liquidation volume exceeded 400 million dollars recently.
The bleak technical outlook after losing key support levels
After piercing the psychological support of $2,000, the technical scenario for the second most important cryptocurrency has become extremely complex and worrying. Analysts watch cautiously as the loss of the 200-week simple moving average usually precedes additional large-scale pullbacks in the short term.
Likewise, selling pressure has been intensified by the massive outflow in US-based Ethereum ETFs, which recorded net withdrawals of $1.1 billion in just two weeks. This institutional behavior, added to sales by large holders like Vitalik Buterin, suggests that the glass ceiling for recovery remains very high.
Could the asset descend to the $1,000 price mark?
According to Glassnode metrics, there is a worrying absence of historical volume support below $1,900, which could facilitate a free fall. Therefore, experts point out that the Ether price will fall likely toward the $1,400 zone, where extreme bearish reversal technical patterns converge daily.
Moreover, the Lookonchain platform has identified critical liquidation zones located at $1,500, $1,300, and $1,000, acting as magnets for price action. In this way, the market seems to be searching for a solid floor, as the next strong structural support sits at $1,200.
However, this situation does not only affect Ethereum, since assets like Bitcoin and Solana have also reported pullbacks exceeding 20% during the same period. This negative correlation shows that systemic instability has forced many traders to abandon their long positions due to increasing risk.
Looking toward the near future, the ability of buyers to defend the $1,700 level will determine if the market enters a long accumulation or panic phase. Therefore, investors should monitor on-chain data, hoping that the stabilization of institutional flow in ETFs finally stops the bleeding.
