Ethereum Price Analysis: After ETH falls below US$1900, is US$2000 still possible?
Ethereum is still in a difficult sideways consolidation stage, with insufficient liquidity and sluggish trading activity making it impossible for both sides to control the situation. Although ETH is currently maintained at around US$1880, the recent break in the short-term structure has brought additional downside risks.
Ethereum Price Analysis: Daily Chart
Daily Chart shows that the market lacks momentum significantly. ETH is currently trading at around US$1880. After recovering from the support area of US$1530 to US$1570, the price trend has become increasingly volatile and the space has narrowed. The main factor contributing to this phenomenon seems to be the lack of liquidity and trading volume in the market. Neither buyers nor sellers can continue to exert pressure to push unilateral markets, causing prices to fluctuate laterally around the 100-day moving average.
The 100-day moving average is currently near US$1900 and remains an important barrier. ETH has hovered near this price many times, but failed to achieve effective breakthroughs and stand firm. At the same time, the downtrend line of the larger cycle is still exerting pressure, posing another layer of technical resistance. As a result, although the market rebounded from its June lows, it remains fragile. The current direct support area is in the range of US$1800 to US$1840. If this area is clearly broken below, market attention may turn back to the main demand area of US$1530 to US$1570. However, until volume and liquidity recover, the volatile sideways situation is likely to continue.
ETH/USDT 4-hour chart
The short-term trend has deteriorated compared with the previous structure. ETH has been operating along the uptrend line formed by the low in early July, but the latest price movement has fallen below this trend line. This break was an early bearish signal, especially since the market subsequently failed to quickly recover the trend line but continued to move below it. ETH is currently organizing around US$1880, but many attempts to attack have limited strength.
As a result, the blue demand area of US$1800 to US$1840 has become the most important support level in the near term. If selling pressure intensifies and the area falls, the break in the upward structure may turn into a larger correction and may even touch the next major support area, US$1710 to US$1750. On the contrary, if ETH can recover the broken trend line and return to the US$1950 to US$1980 resistance zone, the bearish pattern will begin to weaken. Only by breaking through this region can we restore a more convincing bullish continuation pattern.
Sentiment analysis
Spot average order size indicator suggests that market confidence may be weakening. The chart classifies spot activity based on the average size of order execution, with green representing large whale orders and gray representing normal-sized activity. Green dots continued to appear through most of July and early August, and ETH rebounded from approximately US$1600 to the US$1900 region, indicating that large orders actively participated in this round of rebound. Recently, however, green dots have disappeared and have been replaced by gray dots near the current $1900 price.
This shift shows that the market lacks a clear belief in direction and that the large orders that previously supported the rebound have been absent. It is worth noting that a similar change occurred on the left side of the chart near early May-green dots disappeared, gray dots dominated, and ETH subsequently experienced a significant decline. Although historical similarities do not guarantee another sell-off, they do add more evidence to the current technical aspects of caution. In the absence of whale level spot orders, ETH may struggle to achieve sustainable breakthroughs unless stronger participation returns. Combined with the broken trend line on the 4-hour chart and weak daily momentum, the latest on-chain behavior shows that downside risks should always be vigilant.

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