ETH fell by 1.1% in the past 24 hours, sliding to just above $1,800 as analysts suggested the recent rally may have been a dead-cat bounce. Among the top five cryptocurrencies, Ethereum has posted the steepest losses in 2025, down 45.4% year-to-date.
The network’s struggle to remain competitive has pressured the price of its native asset, with rival smart contract platforms like Solana (SOL) and Sui (SUI) offering lower fees and faster execution speeds.
ETH Nears Critical $1,500 Support After Major Downtrend
Crypto trader Big Cheds, who has more than 300,000 followers on X, pointed to the $1,200 level as a critical support and potential buy zone for ETH if the current downtrend continues.
He noted that a bounce from this level could lead to a mid-term rally toward the $3,400 range, translating to a 283% gain.
Looking at the weekly chart, ETH has been in a prolonged downtrend since it failed to break above $4,000 for the third time.
This triple top pattern reflected investor hesitation in pushing valuations higher amid an uncertain macroeconomic backdrop.
Despite these challenges, some technical levels have held firm. The $1,500 support zone has previously acted as a launching point for strong recoveries.
ETH rebounded by 41% and 149% the last two times it touched this level, with each move resulting in a higher high.
If a similar reaction occurs again, the price could target the $5,000 mark, which would represent a 221% increase.
Can ETH Bounce Back or Is $1,200 the Next Stop?
Whether ETH will hold its footing at $1,500 or continue slipping remains to be seen.
A sustained drop below that level could send the price toward $1,200, and potentially as low as $900, implying a total downside risk of around 42% from current levels.
Traders and long-term holders alike will be watching closely to see how ETH reacts to this zone.
A strong bounce could reignite interest, while a bearish breakdown might confirm further downside in the short term.
Once cryptos regain their strength and the bullish cycle resumes, storing these digital assets safely will be a key priority to investors.
Best Wallet (BEST) has rapidly become one of the most promising crypto presales of 2025 as the project prepares to launch the most powerful Web 3 storage solution the industry has seen.
Best Wallet (BEST) Raises $11.5M to Launch its Market-Leading Crypto Storage Solution
Best Wallet (BEST) has captivated investors since its presale event kicked off in December last year.
This crypto wallet will support assets in more than 60 different blockchains and will incorporate innovative tools and features like Upcoming Tokens, a crypto screener that allows investors to identify promising presale projects with immense upside potential.
In addition, Best Wallet’s ambitious roadmap includes the launch of a decentralized exchange (DEX) and a debit card to allow users to pay for their daily expenses with crypto.
$BEST is the wallet’s utility token. Its demand will likely explode as more and more users download the Best Wallet mobile app.
To buy $BEST, simply head to the Best Wallet website and connect your wallet.
You can either swap USDT or ETH for this token or use a credit or debit card to make your investment.
The post Will ETH Hit Rock Bottom at $1,200? Analyst Reveals His Buy Zone Strategy appeared first on Cryptonews.
Credit: Source link
