Ethereum price fell below $1,750 and hit an hourly low of $1,715 after a volatile session that opened at $2,004, tested $2,018 and dropped earlier to $1,814.90 before the fresh decline pushed ETH through short-term floors.
The move leaves ETH trading under the 100-hour simple moving average and consolidating beneath the 23.6% Fibonacci retracement of the slide from the $1,888 swing high to the $1,715 trough, while a bearish trend line now caps upside around $1,750 on hourly charts.
Near-term momentum readings underline the weakness: the Relative Strength Index sits at 34.26 and the Average Directional Index reads 21.6, consistent with a market that has lost directional strength. Selling pressure has a financial bite — Ethereum-focused ETFs have recorded 15 consecutive trading days of net outflows, and traders are assigning a 71% probability that ETH drops to $1,500 before any sustained recovery, a probability that has risen 25% since mid-May.
That bearish short-term picture sits uncomfortably next to longer-run technical structure. The 50-day exponential moving average is around $2,194 and the 200-day EMA is near $2,510, leaving the faster average above the slower one — a classic bullish alignment — even as ETH trades well below both levels. The result is a technical contradiction: longer-term averages still signal a higher plateau while price action and liquidity flows favor further downside.
The immediate map for traders is clear. The first major support lies near $1,680; below that, $1,650, $1,625 and $1,600 are sequential targets if sellers keep control. On the upside, reclaiming $1,750 and clearing the bearish trend line — and with it the 100-hour SMA — would be the minimum needed to blunt the rout and give buyers a chance to stabilize price toward the mid-$1,700s and then the $1,800 area.
The market’s next pivot will be whether ETH can hold the $1,700 zone. If buyers fail there, the path down to $1,600 — and the trader-priced chance of a test at $1,500 — becomes the working scenario; if ETH can recapture $1,750 quickly, the immediate pressure eases and the longer-term moving-average picture may regain relevance. For now, flows and hourly-chart structure suggest sellers remain in the driver’s seat.
