Ethereum fell to $1,615 on Wednesday, marking a drop of more than 3 % and signaling persistent bearish pressure across the market.
On‑Chain Metrics
The ETH Realized Price Lower Band now hovers near $1,150, a level that anchored Ethereum during the 2018 and 2022 bear cycles. Analysts argue that revisiting this threshold could trigger an additional 30 % contraction from current prices, putting investors on alert.
Market Sentiment
Crypto analyst Ted Pillows warned that selling intensity climbs once Ethereum trades above $1,700, stalling any upward momentum. He wrote, “Until Ethereum breaks and reclaims the $1,700 level with strong spot demand, the chances of new lows will go up.” His commentary reflects the cautious stance of many crypto investors.
Technical Overview
Ethereum currently trades beneath its 20‑day, 50‑day, and 100‑day moving averages, which range from $1,740 to $2,050. The Relative Strength Index sits at roughly 34, indicating a deeply oversold condition. Immediate support lies at $1,611, followed by $1,524 and a stronger floor at $1,404, offering potential footholds for the blockchain asset.