Ether plunged roughly 30% over the past week, dropping from about $2,800 to near $1,900 as futures activity weakened and Ether open interest declined by more than $15 billion. Traders and analysts are now watching long-term technical levels and onchain metrics for evidence of where a bottom might form.
Key points:
– Ether lost about 30% in seven days and briefly fell under the $2,000 psychological level.
– Technical and onchain indicators highlight $1,000–$1,400 as potential downside targets if selling continues.
Market moves and context
ETH/USD slipped below $2,000 for the first time since May 2025, hitting a nine-month low around $1,740 on Friday before recovering to roughly $1,900 at the time of reporting. The coin posted the largest weekly drawdown (approximately 30%) among major cryptocurrencies.
The weakness has been broad-based. Bitcoin traded near $66,340, down about 21% on the week. XRP fell more than 21% to roughly $1.37, and Solana declined about 29% in the same period. The total crypto market capitalization dropped around 20% over the week to near $2.23 trillion.
Selling pressure and flows
Liquidations were heavy: roughly $400 million of long positions were wiped out in the prior 24 hours, signaling intense deleveraging. U.S.-listed spot Ether ETFs have seen about $1.1 billion in net outflows over the past two weeks. Additional sales by large holders — including Trend Research and Ethereum co-founder Vitalik Buterin — have added to supply-side pressure and could exacerbate downward moves.
Technical and onchain downside scenarios
Ether recently lost several key supports, including the 200-week simple moving average and the psychological thresholds at $3,000 and $2,000. A previous decisive break below the 200-week SMA in March 2025 preceded an approximate 45% decline; if a similar trajectory unfolds, ETH could extend toward roughly $1,400.
Chart patterns and onchain analytics offer a range of targets: an inverse V-shaped formation points near $1,385, an inverse cup-and-handle structure suggests around $1,665, and MVRV band readings imply support near $1,725. Onchain tracker Lookonchain identified concentrated liquidation zones near $1,500, $1,300 and $1,000 that may trigger further selling before a sustainable low is established.
Glassnode’s UTXO realized price distribution shows limited historical buying below roughly $1,900, implying fewer onchain buyers at current levels. The next meaningful support identified by chain-level accumulation sits near $1,200, where about 1.5 million ETH had previously been purchased.
Taken together, the breakdown of technical supports, clustered liquidation areas and sparse onchain buying beneath current prices put the $1,000–$1,400 range into focus as potential downside targets ahead of any sustained recovery.
Risk reminder
This content is informational and not investment advice. All trading and investment decisions carry risk; readers should do their own research and consider consulting a financial professional. Data cited may change rapidly and past price action does not guarantee future performance.