Ethereum price under $1,800 risks slide toward $1,200, analysts say

Ethereum is trading near $1,580‑$1,590 and remains inside a multi‑year triangle pattern. Analysts note that a weekly close above the $1,800‑$2,000 resistance band would confirm the long‑term rising trendline and support a recovery toward $1,700‑$2,000. Failure to stay above $1,800 could reopen a deeper downside scenario, with the $1,200 level cited as a potential target.

Key support zones are identified at $1,631 and $1,583, while the $1,500 zone is described as critical for maintaining the short‑term bullish bias. A break below $1,500 could push the price into the $1,350‑$1,400 range. Ethereum’s market capitalization is around $190 billion and daily trading volume exceeds $10 billion, indicating continued investor attention despite broader market weakness.

Analysts also point to external pressures such as falling technology stocks and higher‑for‑longer interest‑rate expectations that have weighed on risk assets, including cryptocurrencies. The prevailing view is that the next weekly candle will be decisive for the market’s direction.