Ethereum Price Drops Below $1,620 – Is $1,450 the Next Stop?

The Ethereum price segment has entered a new consolidation phase after facing resistance near the $1,700 level. The value of ETH fell below $1,620 before stabilizing at resistance in the $1,580 support zone. Market participants closely analyze bearish trends while anticipating increased trading movements following short-term market signals. Different market participants view this price movement as a temporary downtrend or a new upward momentum. This price drop raises concerns as some investors see it as an opportunity to buy large amounts of the second largest cryptocurrency or signal serious market problems. ETH Struggles Below Resistance: Bearish Momentum Is Forming Ethereum price managed to rally above $1,650 earlier this week, touching slightly at $1,690 before buyers lost momentum. A sharp rejection at $1,700 led to a break below $1,640, followed by the loss of the critical support trendline at $1,625. The failure to sustain this upward channel has sparked renewed selling interest, pushing ETH below the 100 (SMA) Simple Moving Average. ETH maintains a slightly higher price position above $1,580, and short-term technical figures predict that there will be a downward move. The hourly MACD indicator shows a deep negative reading while the RSI measures below 50, indicating that market strength is declining. ETH is likely to fall back to the $1,555 support level before it can drop to $1,525 or possibly reach $1,450. Key technical levels: Will buyers hold their ground or will sellers prevail? Ethereum's recent slide strongly emphasizes $1,580 and $1,555 as short-term support levels. A drop below these zones could lead to a deeper correction, with targets at $1,525 and $1,450, in line with the 61.8% Fibonacci retracement level from the $1,472 lows. The positive side is that ETH faces a hard resistance wall starting at $1,620 and extending to $1,640. A break above $1,650 will be essential to pull back if the buyers continue to accelerate. ETH could then retest $1,690 and rise to $1,750 or perhaps $1,800, but only if there is a favorable shift in general thinking.

The views of cryptocurrency analysts are still different. As ETH prepares for a strong recovery in Q2, some, like TraderSZ, predict that short-term weakness is likely to continue, while others argue that the current decline presents long-term buying opportunities — especially if macroeconomic data and Bitcoin price volatility continue to be positive. Market participants expect upcoming Ethereum ETF management decisions and news about the network's advancement to have a strong impact on ETH's intermediary trend. What will Ethereum look like next: Buy when the price falls or correct deeper? So, what's next for Ethereum? Looking ahead, Ethereum's trajectory will likely be shaped by its performance around the $1,580 and $1,640 regions. A decisive move in any direction can determine the dynamics for the rest of the month. If the support levels hold, buyers can come back with confidence, setting the stage for a potential rally to $1,700+. Otherwise, we could see ETH underperform in the broader market, especially as Bitcoin continues to dominate the story. Final Thoughts: A Cautious But Wary Market for ETH Bulls The recent drop in Ethereum price has attracted attention, although it has yet to signal any major market interest. With solid support at $1,555 and clear resistance near $1,640, ETH remains in a wait-and-see zone. Traders should be wary of technical signals and overall crypto sentiment. Whether you're considering buying when prices fall or preparing for the next price drop, ETH is at a critical juncture and its next move could provide important clues to the market's direction in Q2.