Once Bitcoin sinks, Ethereum weakens, downside risks build.

Ethereum price is trading in a large channel on the monthly chart. Bitcoin's fall to $60,000 has dragged ETH to its lowest price of the day. After falling to a low of $1,748, ETH exposes another leg down.

In the year

This follows a sharp decline in the past 24 hours, with the top altcoin falling as low as $1,700 amid broader market turmoil.

Bitcoin's fall to $60,000, before recovering to $67,000, dragged ETH to its lowest level of the day.

All the top altcoins, including Solana, BNB and XRP, fell sharply amid the bloodbath.

Ethereum price summary

Ethereum fell below $1,800 on Thursday, the weakest since mid-2025 as selling pressure increased.

The decline sent shockwaves through the broader crypto market, following Bitcoin's sharp drop to $60,000.

Although prices have recovered above $1,900, continued ETF flows and the prevailing risk-off environment suggest bullish momentum is weak.

Ethereum is down more than 29% in the last week and almost 40% in the last month, showing the depth of the recent selloff.

ETH Price Prediction: Could It Target $1,000 Next?

Although bulls are targeting a retracement above $2,000, the monthly chart suggests a weak price structure.

The chart paints a large range of $4,900 that was established during the previous bear cycle.

At the lower end, the parallel channel suggests a potential low in the $1,000–$1,200 zone.

Currently, the $1,800–$1,900 area is in line with the support levels seen in April and May 2025, which were tested after ETH peaked around $4,100 in December 2024.

This overlap reinforces the importance of the zone in determining the immediate price direction.

Analysts view this as a critical support zone, but if sellers breach it, Ethereum's 2022 bear market low could pave the way for a decline to untested levels.

Therefore, bulls should see a significant advance above $2,000. If this happens, the next targets are in the $2,250-$2,700 range.

However, a break below $1,800 risks retesting $1,700.

This week's crash coincides with a similar crash in March-April 2025, which has kept prices below a key growth line since the post-Covid crash in April 2020.

Bears have already touched the mark and in current bearish conditions, the picture is not in favor of bulls.

A rebound could pave the way for a multi-year demand reload zone around $1,250-$1,000. This area represents an unaffected liquidity from the 2022 low price.