Ethereum Price Analysis: Will ETH Drop Further to $1.5K After Recent Rejection?

Ethereum remains under pressure as the broader market sentiment struggles to shift bullish. The price continues to hover around key demand zones, with little sign of immediate strength from bulls, while derivatives and on-chain activity show signs of caution. Technical Analysis By Edris Derakhshi The Daily Chart On the daily timeframe, ETH has failed to recover above the previous support turned resistance near $2,000. The daily structure remains bearish, and the rejection from the $2,200-$2,000 supply zone has intensified selling pressure. The 200-day moving average, currently positioned above $2,800, underscores the broader bearish bias, while RSI lingers in oversold territory, suggesting that downside momentum is still present but potentially weakening. The next strong support lies near the $1,550 region, which is likely going to be touched soon. The 4-Hour Chart Zooming into the 4-hour chart, ETH has formed a horizontal consolidating pattern, with lower highs compressing against horizontal support near $1,750. The asset recently retested the $1,900 zone but was quickly rejected, failing to create any bullish breakout. The RSI has also pulled back from its previous bounce, signaling weakening momentum. A confirmed breakdown below the $1,750 support would likely trigger further downside, while a close above the pattern would be the first sign of short-term strength. Sentiment Analysis By Edris Derakhshi (TradingRage) Exchange Reserve From a sentiment and open interest perspective, Ethereum’s open interest has remained elevated compared to historical values in recent years, even as the price continues to slide. This suggests an influx of aggressive short positioning or late leverage entering the market. If this open interest unwinds rapidly, it could trigger short squeezes on any upside volatility. However, as long as it remains high while price drops, it adds pressure and risk of continued liquidations, especially near key support zones. The post Ethereum Price Analysis: Will ETH Drop Further to $1.5K After Recent Rejection? appeared first on CryptoPotato .