Ethereum Price Forecast: Coinglass Shows Key Levels ETH Traders Must Watch as BTC Trades Below $80K
Coinglass liquidation data paints a grim but actionable picture for ETH traders. Over the past 24 hours, Ethereum has seen more than $164.7 million in long liquidations—second only to Bitcoin, which accounted for $203.7 million.
The Ethereum liquidation heatmap from Coinglass highlights a significant support concentration around the $1,550–$1,570 region. Specifically, over $76.2 million in leveraged long interest is stacked at the $1,554 level.
This zone now acts as a key inflection point: if ETH price defends this level.
For now, all eyes remain on the $1,554 liquidation cluster. A strong defense of this level, combined with increased market volumes could prevent further losses. Otherwise, Ethereum’s next leg may head deeper into the low-$1,500s, as bears tighten their grip heading into the new trading week
Ethereum’s rejection near $1,800 and breakdown through $1,655—the VWAP level—confirms renewed downside momentum, with ETH now trading decisively below its 8-EMA and 21-EMA.
The daily RSI prints 28.59, confirming oversold territory for the first time since early March. While this suggests a short-term bounce could develop, it also reflects capitulation from bulls, especially as the broader trend structure continues to weaken.
Price action is now below the 50-day SMA at $1,787 and far under the 200-day SMA at $1,894—both critical resistance levels that previously provided directional bias for long setups.
A bullish defense at $1,555 could stabilise sentiment, but failure to hold that lifeline increases the likelihood of testing $1,480, a key liquidity pocket. Unless Bitcoin reclaims $80K soon, Ethereum may remain vulnerable to further weakness. Near-term recovery will depend on buyers reclaiming $1,655 and sustaining momentum above the short-term EMAs.