A crucial weekly candle is forming for Ethereum. Crypto analyst Ali Martinez has flagged $1,850 as the make-or-break support level. If sellers force a weekly close below that threshold, he expects ETH to first drop to $1,560 before potentially sliding to the lower boundary of its multiyear trading channel near $1,070.
The $1,850 Line That Determines Short-Term Direction
According to Martinez, Ethereum remains inside a broad trading channel that has defined its price structure for years. The $1,850 zone represents the most critical support currently under threat. “A breakdown below that level would likely accelerate bearish momentum and expose the asset to much lower support areas,” he noted. The analyst outlined a two-step scenario: first a test of $1,560, then a move toward the channel's floor around $1,070.
The weekly close is now the center of gravity for both bulls and bears. No clear reversal signals have emerged from macro indicators or on-chain data, leaving the price action to deliver the next major directional clue.
Thirteen-Day ETF Withdrawal Streak, Bullish Insiders Cash Out
Institutional sentiment is turning sour. U.S. spot Ethereum ETFs have recorded net outflows for 13 consecutive trading days, totaling $121 million. The persistent capital drain suggests large investors are hesitant to accumulate at current levels, even though Ethereum remains the second-largest crypto asset by market cap.
Adding fuel to the bearish fire, Bankless co-founder David Hoffman disclosed that he sold his entire Ethereum position after holding it for nine years. Hoffman argued that ETH has reached “fair value” and no longer offers compelling upside. He further claimed that most economic benefits from the ecosystem now accrue to Layer-2 networks rather than ETH holders. The news resonated across crypto Twitter, amplifying short-term fear.
Standard Chartered Stays Bullish: Draws Parallel to Amazon's 2001 Crash
Not everyone is running for the exits. Standard Chartered has compared the current Ethereum drawdown to Amazon's share price collapse in 2001, when the company suffered severe market weakness despite strong underlying fundamental growth. The bank believes Ethereum remains the dominant platform for stablecoins and tokenized real-world assets (RWAs), both of which are expected to expand significantly as institutional adoption accelerates.
Based on that thesis, Standard Chartered reiterates its forecasts: $4,000 by the end of 2026 and $40,000 by 2030. The contrast between short-term bearish signals and long-term bullish projections could not be sharper. For now, all eyes are on the weekly close — and the $1,850 support that will decide Ethereum's next chapter.