Ethereum (ETH) price saw a horrible depression due to the capitulation candle, just like the March 2020 crash.
The chart showed downtrend periods: 2020-2021, when ETH plunged to around $900, and 2024-2025, when the price fell from a record high of around $4,000 to $1,940, based on the candle patterns.
These points of sale on the chart indicated that pressure to sell was encountered and that the market dropped.
ETH could fall to as low as the $1,400-$1,600 range. It is support level range which aligns with levels at $1,440, marked on the right-hand axis of the chart.
But it attempts to sound hopeful too, declaring that $10,000 ETH is still in the cycle for this cycle, with a hint of a flip.
If ETH drops to $1,400-$1,600, it will bottom and reverse, maybe to $3,500 or higher, as in past reversals.
If bear momentum persists, however, ETH will drop below $1,400, showing lower supports at $900, a level it hit during the 2020 crash.
The analysis is conservative but bullish for ETH price action.
Global Liquidity Bands vs Price
The price of Ethereum against Global Liquidity Bands showed ETH having moved to the position of a “buy” up to March 2025, as exemplified in the quotation.
On this chart, there is drawn of ETH’s plummeting value in price (black line) down to the lows of $1,940 below Liquidity Fair (broken line) to reaching as low as Global Liquidity Bottom (green line) of about $1,500.
The Global Liquidity Top (red line) in late 2024 was approximately $4,800, which is a resistance point.
The same buy signal had appeared previously in August 2024. It was when ETH had declined to approximately $2,500, just above the Liquidity Bottom, and rallied to $3,500 in October 2024.
Previously, in May 2024, ETH had gone up from $3,000 to $4,000 to hit the Liquidity Top.
A retest of $3,000 or higher is likely if previous trends have to repeat themselves.
Or, if ETH cannot hold the support level at $1,500, it can also go down to $1,200, levels seen in early 2024, indicating more bear pressure.
The conclusion is based on the cyclical pattern of ETH in liquidity cycles.
What ETH Needs to Flip Bullish…
However, ETH’s weekly price movement, breaking above $2,160 could be a sign of bullish vigor.
ETH’s value has dipped as low as $1,938 in recent times from ATHs of $4,000 around the end of 2024.
ETH also broke a significant resistance level at $4,500 at the beginning of 2022, before dipping to $1,000 in mid-2022.
There was a recovery in 2024 that drove ETH to $3,500 before the recent drop.
This showed a strong level of $2,160, in a resistance zone of $2,160 to $2,500.
If Ethereum can break above $2,160, it can go all the way to $3,000, a level it reached in mid-2024. That’s a is very bullish sentiment.
Conversely, not breaking $2,160 may witness more price loss. It would chip away at the $1,740 early-2023 support or even to $1,000, as happened in 2022.
This illustrated just how bad the comeback is for the rapid rebound back and to avoid more losses, forcing a shift for ETH’s direction.
