Ethereum is at a pivotal technical juncture as conflicting signals emerge from derivatives data and chart patterns. After a 4.20% decline to around $1,762, the second-largest cryptocurrency faces a dense cluster of leveraged long liquidations that could drag the price toward $1,500. Yet at the same time, a strong support zone near $1,740 is holding, and some analysts see a potential rebound toward $2,000.
The bearish case centers on liquidation mapping. Data shared by trader TedPillows shows a heavy concentration of long positions all the way down to $1,500. “There isn’t much downside liquidity left to take, and the upside liquidity will start looking attractive,” he noted. With the market still in a corrective phase after peaking above $4,500, the structure of lower highs and lower lows remains intact. The $1,750–$1,800 range acts as an initial buffer, but a break below could quickly expose $1,650 and then the $1,500 liquidity pocket. Momentum indicators paint a weak picture — the daily RSI is deeply oversold near 18, and the MACD remains bearish with no convergence signal.
On the bullish side, Ethereum’s recent dip found solid footing at the $1,740 support, a level that previously halted sharp sell-offs in February. The upward reversal from this zone, combined with an oversold Stochastic, has led some technical analysts to predict a rise to $2,000, which was strong support in March and May. The Fibonacci resistance at $2,229 remains a further upside hurdle, but reclaiming $1,900–$2,000 would be an early sign of recovery strength.
Traders now watch whether the liquidation magnet at $1,500 or the recovery path to $2,000 will dominate. The outcome will likely drive short-term volatility and set the tone for Ethereum’s next major move.
