Ethereum Price Faces Critical Support Levels as Analysts Warn of Further Decline

The Ethereum price has taken a hit in the past 24 hours, falling by around 4% to reach $1,630. This decline is part of a broader market-wide selloff, which has seen total crypto market value drop by 3.5% to approximately $2.12 trillion.

Market participants attribute the decline to weak risk appetite, security-related concerns, and a wave of leveraged liquidations. The largest cryptocurrency, Bitcoin, also fell by 4.7% to around $61,050, contributing to the market downturn.

Data from the derivatives market shows that crypto liquidations reached approximately $468 million over the past day, with long liquidations totaling around $331 million and short positions remaining vulnerable to a sudden reversal. Exchange-traded fund activity delivered mixed signals, with U.S. spot Bitcoin ETFs recording net outflows of $91.37 million, while spot Ethereum ETFs attracted $82.37 million in inflows.

Technical indicators point to critical support levels for Ethereum. Analyst Ted Pillows notes that the area around $1,700 has turned into resistance after previously acting as a major bottom in February 2026. If Ethereum fails to reclaim this level, it could expose the next key support level at $1,540.

A breakdown below this level could lead to another move lower for Ethereum. Longer-term charts point to additional support levels, with weekly price action showing Ethereum testing support near $1,530. A decisive break below this level could expose the next major support level near $1,064.