Ethereum Price Risks Deeper Pullback If $1,700 Support Breaks for ETH

Key Insights

• Ethereum price fell below $1,800, shifting focus to the $1,700-$1,750 support zone.
• A clean break below $1,700 could increase the risk of a deeper move toward sub-$1,500 levels.
• Fed rate guidance and weak volume may shape ETH momentum before the June monthly close.

The Ethereum price has slipped below the brief $1,800 support, putting short-term traders back on defense. ETH traded near $1,760 on Wednesday, after losing momentum near a key psychological level. The move has drawn attention to the $1,700-$1,750 range, where buyers may need to act quickly.

A firm reaction there could support a relief bounce for the second-largest crypto in the world. A clean break could expose deeper demand near the sub-$1,500 region. Macro uncertainty also matters, with markets watching the US Federal Reserve’s latest guidance for signals on risk appetite.

Ethereum Price Tests Crucial Support Below $1,800

The latest move shows how fragile the short-term structure has become for Ethereum price. The $1,800 level had acted as a sentiment marker for traders. Losing it made the next support zone more important.

According to analyst Ted Pillows, ETH price below $1,800 puts $1,700-$1,750 in focus. That area now serves as the first line of defense for bulls. It may also decide whether the current weakness becomes a larger correction.

Ethereum Price Analysis | Source: Ted Pillows, X

Crypto market cycles round-number losses often trigger fast positioning changes. Traders rarely treat those levels as random. They use them to manage leverage, stops, and short-term entries.

If the major support holds, Ethereum price could attempt to reclaim $1,800. A stronger rebound may then target the $2,000-$2,100 zone. That area remains important because June opened near $2,004.

Ethereum Price Analysis Shows Bearish Risk Remains Active

Ethereum price analysis still points to downside risk if buyers fail near support. A break below $1,700 may invite stronger selling pressure. It could also weaken confidence among traders seeking a higher low.

The monthly chart adds more context. ETH price opened in June near $2,004, reached around $2,018, and fell to $1,505. That large lower wick has raised talk of a possible hammer candle.

According to analyst Crypto Patel, a hammer candle needs a strong monthly close to matter. Without confirmation, it remains only a developing pattern. Traders will likely watch the June 30 close for direction.

ETH Price Prediction | Source: CryptoPatel, X

The $1,000-$1,500 zone also stands out on long-term charts. Analysts have described it as a major accumulation area. Prior Ethereum cycle bottoms formed near similar demand zones in 2018 and 2020.

Macro conditions are now part of the Ethereum price setup. CME FedWatch pricing showed markets heavily expected no rate change at the June meeting. The target range remained around 350-375 basis points.

The key near-term map remains simple. Bulls need to defend $1,700-$1,750 and reclaim $1,800. Bears need a breakdown below $1,700 to strengthen the sub-$1,500 case.

Long-term targets near $10,000-$15,000 depend on a confirmed cycle reversal. For now, that remains a scenario, not a base case. Ethereum must first stabilize above support before traders can revisit that larger altseason thesis.

Meanwhile, the US Federal Reserve also kept the interest rate unchanged. Despite that, the latest dip in the broader crypto market indicates that the investors are awaiting for further bullish news before a strong rebound ahead.

The post Ethereum Price Risks Deeper Pullback If $1,700 Support Breaks for ETH appeared first on The Coin Republic.