Ethereum Price Threatens Major Breakdown as $1,500 Support Wobbles

Ethereum (ETH) is showing increasing weakness after falling below the key $1,570–$1,600 range—a critical support zone that historically acted as a springboard for bullish recoveries. The recent drop below the ascending trendline formed since the March lows has invalidated the brief recovery pattern, signaling a potential shift in market sentiment. This failure to hold above crucial levels suggests a deeper decline could be on the horizon.

ETH is now struggling to maintain the $1,500 level, a threshold that, if lost, could open the door to a swift drop toward $1,200 or even the psychological $1,000 mark. Such a move would erase several months of gains and return Ethereum to early 2023 price levels.

Further intensifying bearish sentiment, ETH remains rejected by major moving averages—the 50-day, 100-day, and 200-day EMAs—all of which are trending downward. This reinforces the bearish trend across short-, medium-, and long-term time frames. Meanwhile, trading volume shows a lack of conviction among buyers. Despite a slight uptick in activity, weakening buy pressure indicates growing investor pessimism.

The Relative Strength Index (RSI) has dipped into the low 30s, suggesting Ethereum is approaching oversold conditions. However, without a supportive technical structure or improving macroeconomic backdrop, a rebound remains uncertain.

If Ethereum fails to reclaim and hold above $1,500 soon, bearish momentum may accelerate, bringing ETH closer to the $1,200 and potentially the $1,000 zone. This could mark a significant capitulation phase for the second-largest cryptocurrency by market cap. Traders and investors are closely watching the $1,500 level as a final line of defense before a possible sharp decline.