Ethereum Price Forecast:

Ethereum faces the risk of dropping to $1000 amid selling pressures from DeFi liquidations.

Today's Ethereum Price

Short-term Ethereum holders led the recent selling activity, realizing losses of over $500 million on Monday.

Increased DeFi liquidations could accelerate Ethereum's decline and lead to further sell-offs.

Ethereum could drop to $1000 if it breaks below the lower bound of the descending channel.

Ethereum (ETH) has suffered a collapse of over 27% in the past 48 hours, briefly falling to a two-year low of $1410 before regaining the $1500 level on Monday. According to Coinglass data, the decline triggered liquidations worth $257.87 million in the Ethereum derivatives market during this period.