Ethereum Hits 14-Week Low: Will ETH Price Hold $1,800?

On Wednesday, Ether (ETH) fell to $1,814, marking its lowest level in over 14 weeks. This has raised concerns about whether the ETH/USD pair can stabilize around the multi-year liquidity zones near $1,800. Cointelegraph.com reports .

Ethereum's technical structure weakened significantly after losing the $2,000 and $2,200 support levels. All major moving averages on the daily chart were located precisely in this zone. As ETH dropped to $1,814 on Bitstamp, the daily Relative Strength Index (RSI) fell to 25. This is the lowest reading since February 6, indicating strong selling pressure and an oversold condition for the asset.

However, this situation could also signal waning seller momentum. Such conditions may trigger a price rebound from current levels, similar to the 39% rally observed in February. Analysts believe a positive trend for Ether depends on the ETH/USD pair holding above the critical $1,800 support level.

Analyst Ted Pillows noted in a post on X that ETH nearly touched the $1,800 level today. His chart suggests that if the price falls below $1,800, areas under $1,700 could come into play. Another analyst, CrypDoMillions, added that losing the $1,800 mark could drive ETH prices toward $1,600.