Ethereum (ETH) Analysis: Key Levels to Watch as Price Slips Below $1800
ETH
1,806.51
-1.29%
Ethereum (ETH) is currently trading just under $1800, shedding around 3% over the past 24 hours. The recent dip below this key psychological level is raising concerns about further downside pressure, with traders eyeing the next critical support zones.
Current Market Overview
ETH’s failure to hold above $1800 opens the door to additional selling. If the price remains below this threshold, the next potential support lies near $1700 — a level both technically and psychologically significant for buyers looking to defend against deeper declines.
Key Support Levels
S1 (Immediate Support): $1720.06
Psychological Support: $1700
This zone between $1700 and $1720.06 is crucial. Buyers are expected to step in here, and a reversal is possible if buying momentum returns. Traders may consider entering long positions in this range, provided there are clear signs of stabilization or a bounce.
Buying Zone: $1700 – $1720.06
Potential Targets: $1800, $1850, $1962.23, $2108.80
Suggested Stop-Loss: Tight stop below $1700
Warning: A decisive breakdown below $1700 could trigger a sharper sell-off, potentially sending ETH toward the next major support at $1534.87.
Additional Support Levels:
Support 2: $1534.87
Support 3 (Strong Buy Zone): $1380
If Ethereum declines toward the $1534.87–$1380 range in the coming days, this area could present a high-value accumulation opportunity for long-term investors. Traders considering entries here should manage risk accordingly, with stop-losses placed below $1380 or based on personal risk tolerance.
Key Takeaways for Today’s Session
Important Trading Levels: $1850 (resistance), $1700 (critical support)
Below $1700: Increased risk of freefall toward $1534.87 and $1380
Above $1700: Potential rebound toward $1800 and higher targets
Market Outlook
While ETH remains under pressure, key support levels offer possible entry points for buyers willing to navigate current volatility. However, if $1700 fails to hold, downside risks increase significantly.
Disclaimer: This analysis reflects personal views and is provided for informational purposes. Markets are influenced by news and broader sentiment, so it’s essential to conduct your own research before making trading decisions.
Written by NoriFtm for the Binance Square Write to Earn program.$ETH