The Ethereum price remains under pressure after months of steady selling, but some traders believe that the current weakness could create an opportunity if buyers manage to defend key support.
Crypto analyst Sjuul from AltCryptoGems notes that periods like this have often produced attractive long-term entries. He is paying close attention to the $1,800 area, where stronger buying interest could begin changing the broader picture.
The ETH price has fallen significantly since February, when it traded at around $2,460. The current correction has driven the ETH price to the $1,500-$1,800 price range, making the coin 27%-39% cheaper compared to its highs. In comparison to its all-time high of $4,891 set in November 2021, Ethereum is trading at 63%-69% lower prices.
The chart still demonstrates the continuation of lower highs and lows, meaning that each time ETH tries to recover, the attempts end up lower than previous resistance zones. The first area that should be defended by buyers is the $1,500 support zone. If the buyers manage to hold above this level, it could give hope for recovery towards $1,800.