Ethereum is hovering near a level that could decide its next major move. Two widely shared chart analyses now point to the same risk: if key support fails, downside pressure could build fast. Ethereum Holds Near $2,000 as Analyst Flags Breakout or Liquidation Risk Ethereum traded near the $2,000 level in a chart shared by X user Ted Pillows, who described the zone as a key support area for the token’s next move. The daily Binance ETH/USDT chart showed price at about $2,003.80 at the time of the post, with Ethereum moving in a tight range after a sharp decline from levels above $2,600 earlier in the year. ETH/USDT 1D Chart: Source: Ted Pillows on X According to the chart, the $2,000 area now sits just below a nearby resistance band around $2,100 to $2,150. Ted Pillows said Ethereum needs to hold the current zone to support a rally into that resistance area. The chart also outlined a possible bullish path in white, showing price first reclaiming nearby levels and then pushing higher toward roughly $2,400 and $2,624 if momentum builds. At the same time, the chart presented a downside scenario if Ethereum loses support near $2,000. In that case, the projected move showed price slipping toward the $1,820 area, with lower support zones marked around $1,740, $1,693, and $1,550. Ted Pillows said a failure to hold the current level could trigger cascading liquidations, a move that usually happens when forced selling accelerates after leveraged positions are wiped out. The broader structure on the chart remained weak despite the recent stabilization. Ethereum had already broken below several former support zones, which now appear to act as resistance. As a result, the $2,000 level stands out as the immediate line traders are watching, because holding above it could open the way for a short term rebound, while a breakdown could deepen the recent slide. Ethereum Chart Signals Bearish Continuation as Analyst Eyes Lower Liquidity Zones A four hour Ethereum chart shared by Crypto Patel pointed to a bearish continuation setup, with the analyst arguing that recent price action showed weakness after a rejection from a higher time frame supply area. The chart highlighted a one day fair value gap near $2,078, where Ethereum appeared to lose momentum after testing overhead resistance. ETH/USD 4H Chart: Source: Crypto Patel on X Crypto Patel said the structure showed several bearish signals at once. These included SMT divergence at the highs, a completed liquidity sweep, and a series of lower highs that suggested sellers were regaining control. In the chart, those signals appeared before a projected move lower toward sell side liquidity resting below recent support. The analysis marked downside targets at $1,980, then $1,800, and finally $1,500. It also set invalidation at a four hour close above $2,204. According to the chart, that level would weaken the bearish case by showing that Ethereum had reclaimed the area that now acts as a key resistance zone. The broader setup reflected a market that failed to hold strength after moving into supply. Instead of breaking higher, Ethereum turned lower from the fair value gap and formed a structure that the analyst interpreted as bearish continuation. As a result, the focus shifted from upside expansion to whether price would move into lower liquidity pools, where forced selling or stop runs could accelerate the decline.
