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ETH Ethereum Price Forecast: If buyers fail to regain control soon, will ETH fall to $2000?
The post-Ethereum breakthrough consolidation is beginning to turn into a correction stage, with prices falling below the lower edge of the recent range. While the broader recovery landscape remains intact, the weakening short-term structure suggests that ETH may seek liquidity at lower levels before buyers attempt to continue rising again.
Ethereum Price Analysis: Daily Chart
Ethereum's daily chart shows that the market has cooled significantly after an explosive rise from the bottom of US$1,850 - 1,920. This trend directly pushed ETH into the main resistance zone of US$2,440 - 2,510, but buyers have repeatedly failed to successfully stand above this zone.
Recent K-line graphs show that selling pressure is gradually taking advantage. ETH has fallen below the lower boundary of the $2,440 - 2,510 resistance range and is currently trading around $2370. Previous attempts to hit the local high of $2570 were unsuccessful, indicating that the initial bullish momentum has been temporarily exhausted.
If the pullback deepens further, the Fibonacci retracement level will provide a useful reference. The 0.5 retracement level is around $2210, while the 0.618 retracement level is close to $2130, highly coinciding with the broader $2,070 - 2,160 support range. This overlap makes the $2,070 - 2,210 range an important potential demand area during a deeper correction.
Still, this correction does not necessarily undermine the broader bullish structure. Conversely, if prices return to the $2,440 - 2,510 resistance zone, it will relieve the current bearish pressure and bring the $2570 high back into the spotlight.
The ETH/USDT 4-hour chart
The 4-hour time frame shows a significant deterioration in the short-term market structure. After several trading days of turbulence in the US$2,430 - 2,510 range, ETH has fallen below the lower boundary of the range and is currently approaching US$2370.
More importantly, the recent rebound has become increasingly weak in maintaining upward momentum. The most recent blockage in the $2,480 - 2,500 area was followed by another rapid decline, suggesting that sellers are regaining control as previous consolidation breaks downward.
The first major technical correction area is around US$2,210 - 2,310. Given the verticality of the initial rally, relatively few support structures are currently established between the market and the region, and if selling pressure continues, a deeper correction into the region is increasingly likely.
The next important support is around US$2,070 - 2,120. However, a rebound in prices above the $2,430 - 2,510 region would weaken the pullback scenario and suggest that there is insufficient momentum to follow up on the decline.
Sentiment analysis
The two-week ETH liquidation heat chart strengthens expectations that prices may fall in the short term. With ETH trading in the region above $2300, a large amount of clearing liquidity is concentrated below the market, roughly around $2,320 - 2,360.
This downward liquidity is the most relevant short-term goal on the heat map. If the current decline continues, the market may be attracted to this cluster as leveraged positions are cleared and liquidity is collected.
As a result, the liquidation data is consistent with the weakening technical structure. Clearing liquidity below current prices could be the first goal of this correction, before the market will decide whether a larger correction to the main technical support range is needed.
