Ether’s (ETH) rally stalled late Monday just above $2,000 due to stiff overhead resistance, as the technical setup suggested that downward momentum would increase if the ETH/USD pair breaks below $1,800.
Key takeaways:
ETH price must hold above $1,800 to avoid another leg down.
Ether’s bearish charts and onchain indicators converge on ETH prices below $1,500.
ETH price: $1,800 remains a key level to watch
Ether’s cost-basis distribution heatmap shows strong support recently established around $1,800. This is where about 1.23 million ETH were acquired at an average price of $1,890 over the last 30 days.
ETH: Cost basis distribution heatmap
This area is now a strong support for ETH, which, if broken, would likely see the price retest February’s lows.
Related: Ether is 60% down from its 2025 high, but TradFi keeps betting on ETH: Here’s why
CoinGlass data shows short liquidations of over $120 million over the past two days, clearing overhead leverage. Now, $624 million in cumulative long liquidation exposure sits above $1,800, forming a liquidity pocket below the spot price.
ETH exchange liquidation map. Source: CoinGlass
CryptoQuant analyst Maartunn spotted 67,000 ETH, worth about $130 million, sitting just below the spot price, reinforcing the significance of this support zone.
ETH liquidation heatmap. Source: X/Maartunn
ETH price triangle pattern targets sub-$1,500
From a technical point of view, the $1,800-$1,900 support zone coincides with the lower trend line of a symmetrical triangle on the daily chart.
If the bearish momentum persists, the ETH/USD pair might drop below the lower boundary of the triangle at $1,850 to test support at $1,750, the multi-year low reached on Feb. 6.
Below that, ETH could drop toward the measured target of the triangle at $1,400, 28% below the current price.
ETH/USD daily chart. Source: Cointelegraph/TradingView
Meanwhile, Ether’s MVRV extreme deviation pricing bands suggest that ETH price still has room to drop before the unrealized profit held by investors reaches an extreme level, or around $1,650, as shown in the chart below.
Ethereum: MRVR extreme…..
