$ETH runs the risk of falling to $1,000 as liquidations approach, with $342 million ready to be wiped out.

The total value locked (TVL) of ETH has dropped 43% since December, indicating a decrease in user confidence and less engagement with DeFi.

Bearish technicians and a 70% drop from all-time highs suggest downward momentum, although $1,749 is key for a potential recovery.