Ethereum (ETH) is currently facing a crucial test of its technical integrity, as the price struggles to maintain support near $1,500. This region has proven to be a critical area for buyers in the past, having successfully acted as support in both 2023 and April 2025.
The Ethereum weekly chart reveals a clear pattern of lower highs followed by sharp selloffs, creating a bearish structure that has pushed ETH below both the weekly 200 EMA and weekly 200 MA. These moving averages, previously serving as long-term trend support, have now turned into overhead resistance.
Analyst Daan Crypto Trades notes that ETH has retraced the entire BMNR rally and returned to the $1,500 region, coinciding with a major historical support area. This level is considered more significant than the April 2025 wick low near $1,375, suggesting that if ETH breaks below it, downside momentum could accelerate.