Ether (ETH) has plunged roughly 30% over the past seven days, sliding from about $2,800 to $1,900, while futures activity weakened sharply as Ether’s open interest fell by more than $15 billion during the same period. Analysts are watching long-term technical zones and onchain indicators for signs of a major turning point.
Key takeaways:
– Ether has lost 30% in seven days, falling beneath the $2,000 psychological level.
– The recent crash brings $1,000–$1,400 into focus as potential downside targets.
ETH drops with the crypto market
The ETH/USD pair slipped below $2,000 for the first time since May 2025, hitting a nine-month low of $1,740 on Friday. Ether later recovered to around $1,900 at the time of reporting but recorded the largest weekly drawdown (30%) among top-cap cryptos.
Bitcoin (BTC) traded near $66,340, down about 21% over the week. XRP fell more than 21% to roughly $1.37, and Solana (SOL) dropped about 29% over the same period. The broader crypto market cap declined about 20% on the week to near $2.23 trillion.
Ether’s slump included about $400 million in long liquidations over the prior 24 hours, indicating heavy selling pressure from leveraged positions. US-based spot Ether ETFs have also seen roughly $1.1 billion in net outflows in the past two weeks. Additional selling from prominent holders — including Trend Research and Ethereum co-founder Vitalik Buterin — adds to overhead pressure that could push ETH lower.
How low can ETH price go?
Over the last two weeks, Ether lost key supports including the 200-week simple moving average (SMA) and psychological levels at $3,000 and $2,000. The prior decisive drop below the 200-week SMA in March 2025 preceded a roughly 45% decline; if history repeats, ETH could extend its downtrend toward about $1,400.
Chart patterns and onchain measures give varying targets: an inverse V-shaped pattern points to around $1,385 (roughly a 28% drop from current levels). An inverse cup-and-handle pattern targets about $1,665, and MVRV bands suggest near $1,725. Onchain analytics provider Lookonchain flagged major liquidation zones near $1,500, $1,300 and $1,000 that could attract sell-side activity before any bottom forms.
Glassnode’s UTXO realized price distribution (URPD) shows little historical volume below roughly $1,900, implying buyers may be scarce until price reaches lower supports. The next material support level is near $1,200, where about 1.5 million ETH were previously accumulated.
This combination of technical breakdowns, concentrated liquidation areas and limited prior onchain buying below current levels places $1,000–$1,400 in focus as potential downside targets before a more sustained recovery could begin.
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