Ethereum is sitting at a key support zone as analysts split on whether ETH can recover or drop toward $1,580.
Ali Martinez warns that ETH has lost short-term support, while CryptoWZRD says holding the $1,700-$1,800 range could keep the recovery setup alive.
Ethereum Risks Drop to $1,580 After Losing Key Support, Analyst Says
Ethereum could be headed for another leg lower after breaking below a key technical level, according to crypto analyst Ali Martinez.
In a post on X, Martinez said ETH has fallen below its 200-hour simple moving average (SMA) and is breaking down from an ascending channel pattern. The analyst expects the move to open the door for a decline toward $1,580.
ETH/USD 1-Hour Channel Breakdown. Source: Ali Martinez (@ali_charts)
The one-hour ETH/USD chart shows Ethereum slipping beneath the lower boundary of a rising channel that had supported price action over the past several days. At the same time, ETH has moved below the 200-hour SMA, a level traders often monitor to gauge short-term trend strength.
According to the chart, Ethereum is trading near $1,691, with potential support levels around $1,660 and $1,580. Martinez's bearish projection suggests that if sellers maintain control, ETH could continue moving lower toward the lower end of the channel structure.
A breakdown below both channel support and the 200-hour SMA is generally viewed as a sign of weakening momentum. However, buyers could still attempt to reclaim these levels and invalidate the bearish setup.
For now, traders are watching whether Ethereum can recover above the broken support zone or if the projected move toward $1,580 begins to unfold.
Ethereum Needs to Hold $1,700-$1,800 Zone to Maintain Recovery, Analyst Says
Ethereum could remain on track for a broader recovery as long as it stays above a key support range, according to crypto analyst CryptoWZRD.
In a post on X, the analyst said ETH closed the day slightly bearish but still expects further upside. However, the market's reaction following the Federal Reserve decision could determine whether Ethereum builds momentum or faces renewed weakness.
ETH/USDT Daily Support Zone. Source: CryptoWZRD (@CryptoWZRD_)
The daily ETH/USDT chart shows Ethereum rebounding from recent lows near $1,500 and recovering toward the $1,700-$1,800 area. The chart identifies this range as an important support zone, with ETH currently trading near $1,713.
According to CryptoWZRD, maintaining price above the $1,700-$1,800 region would be a constructive signal and could support a move toward higher resistance levels near $2,100 and $2,200.
The chart also highlights a descending trend line from recent highs, suggesting Ethereum would still need to overcome additional resistance before confirming a larger bullish reversal.
However, a breakdown below the support range could weaken the outlook and increase the risk of another move lower.
For now, traders are watching whether Ethereum can hold above the key support zone as markets digest post-FOMC developments and search for clearer directional momentum.
