Ethereum price continued its weak trend after failing to maintain important support zones. The asset traded at around $1,680, down 5.89% in the last 24 hours. Analysts stated that the loss of the $ 1,825 support disrupted the short-term outlook, so the $ 1,600 and $ 1,400 range came to the fore again.
Loss of support increased downside risks
The most notable break from a technical perspective was the fall below the $1,825 level, which was previously viewed as a strong base. The loss of this region in the market was evaluated as a development indicating that the short-term structure has changed downwards. Accordingly, while the old support now stands out as a resistance zone, buyers are expected to give the first strong reaction around $ 1,600.
Analyst Ali Charts shared that while the 3-day chart showed Ethereum falling below $1,825, the next important levels are located around $1,603 and $1,409.
This outlook does not mean that the price will drop directly to $1,400. However, if buying interest remains weak, the possibility of testing lower liquidity zones remains on the table. Especially if the $1,600 level cannot be maintained, the $1,400 region may become a stronger scenario.
| Level | Technical meaning |
|---|---|
| $1,825 | Lost old support, new resistance |
| $1,603 | Next closely watched support zone |
| $1,409 | Prominent area in deeper retracement |
The RSI indicator has fallen into the oversold zone
While price pressure continued, momentum indicators pointed to oversold conditions in the market. Daily RSI data was seen around 18.45 in one chart and 22.53 in another study, revealing an unusually weak picture for Ethereum.
Mini dictionary: RSI, or relative strength index, is a technical indicator that measures the speed and strength of price movement. In general, levels below 30 are considered oversold, and levels above 70 are considered overbought.
In the evaluation shared by Max Crypto, it was stated that Ethereum’s daily RSI level fell to the sharpest oversold area in the last seven years.
In the shared charts, the current picture was compared with the pandemic period collapse and the sharp sales after FTX. Although such periods indicate intense pressure, for some investors they are also seen as areas where sellers begin to lose power.
Staking data diverges as weakness persists in broader outlook
It was reported that on larger time frames, Ethereum broke down the ascending channel structure, confirming larger-scale weakness. While some charts discussed the move as part of a possible ABC correction structure, the possible buy zone was shown to be located between $1,400 and $1,600.
In contrast, in-network data revealed a different picture. According to data transmitted by BSCN, approximately 3.10 million ETH, that is, assets worth approximately $ 5.45 billion, are waiting to be staked on the network. On the other hand, the amount waiting to be unstacked remained at 49,738 ETH.
This difference indicates that long-term investors are not exiting the network quickly. Although the price outlook is under pressure in the short term, the fact that staking inflows are significantly higher than outflows is among the factors that show that longer-term confidence is not completely lost.
Eyes on $1,600 in the short term
In the current outlook, the short-term picture for Ethereum remains fragile. As long as the price remains below $1,825 and the $1,750 level, the $1,600 and $1,400 targets remain technically valid. On the other hand, if buyers make a strong defense around $ 1,600, a reaction rise may be seen towards the band of $ 1,750 and $ 1,825.
