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>>Ethereum price outlook: ETH could slip to $1,800 unless the bulls regain this pivotal level

Ethereum price outlook: ETH could slip to $1,800 unless the bulls regain this pivotal level

crypthub

about 14 hours ago

Daily Technical Outlook

Ether trades around $2,080, hovering just below the 100‑day moving average near $2.2k which now acts as resistance. The ascending channel’s lower boundary is weakening and RSI sits in the 35‑40 zone, signaling continued selling pressure. Immediate support lies at the $1.8k demand zone; a break below would risk a rapid slide. Conversely, a bounce above the 100‑day MA is needed to restore the daily structure and keep the mid‑term outlook viable.

4‑Hour Reversal Signal

A possible inverse head‑and‑shoulders is forming on the 4‑hour chart, with the left shoulder at $2.1k, the head near $2.0k and the right shoulder emerging around $2.8k. The neckline sits near $2.15k; a close above it would trigger a measured move toward $2.25k‑$2.4k. If the right shoulder fails, price could dip below $2k and target the $1.8k zone. The pattern remains unconfirmed and requires a decisive break to validate.

On‑Chain Supply Situation

Exchange reserves hold about 14.8 M ETH, the lowest level in recent years, indicating limited sell‑side liquidity despite the $2k price. The modest rise from 14.4 M in early May hints at a gradual return of supply to exchanges. Should this trend accelerate, it could pressure prices downward, but the currently thin order book may aid a rebound when buyers step in.

Overall Risk Assessment

Ethereum faces a near‑term risk of slipping to $1.8k unless bulls recapture the 100‑day moving average and confirm the 4‑hour reversal. A successful break above the neckline would shift sentiment and potentially restore the $2.4k supply zone. Monitoring exchange inflows and the head‑and‑shoulders pattern will be key to gauging the next move.