Ethereum has tumbled below a critical support level, trading at $1,680 with a 5.89% daily decline. The breakdown of the $1,825 level, previously a strong floor, confirms a bearish shift in the short-term structure. That price point now acts as resistance, and buyers are expected to mount their first solid defense near $1,600.
Next supports at $1,603 and $1,409
Analyst Ali Charts noted that Ethereum's three-day chart has dropped below $1,825, highlighting the next significant areas at approximately $1,603 and $1,409. This does not guarantee an immediate plunge to $1,400, but if buying interest remains weak, lower-liquidity zones could be tested. Losing the $1,600 threshold would make a move toward $1,400 a more prominent scenario.
RSI enters extreme oversold territory
Downward pressure has pushed momentum indicators deep into oversold territory. The daily Relative Strength Index (RSI) fell to 18.45 on one chart and around 22.53 on another, among the weakest readings for Ethereum in recent years. Analysis from Max Crypto noted that the daily RSI is in its deepest oversold condition in over seven years. Similar readings occurred during the COVID-19 crash and the post-FTX selloff. While this signals strong downside, some investors view it as a period where selling momentum may be exhausting.
Staking activity reveals long-term confidence
On longer timeframes, Ethereum has broken below its rising channel, confirming broader weakness. Some interpretations see this as part of a potential ABC corrective pattern, with the accumulation zone likely between $1,400 and $1,600. However, on-chain data tells a different story. According to BSCN, approximately 3.1 million ETH (worth $5.45 billion) is queued for staking, while only 49,737 ETH awaits withdrawal. This stark contrast indicates that long-term investors are not rushing to exit. Despite price stress, the overwhelming ratio of staking deposits to withdrawals suggests confidence remains intact.
Short-term focus: Can $1,600 hold?
The short-term outlook remains fragile. As long as Ethereum stays below $1,825 and fails to reclaim $1,750, the $1,600 and $1,400 targets remain technically viable. Conversely, if buyers mount a strong defense around $1,600, a rebound toward the $1,750–$1,825 range is possible.