Ethereum (ETH) Price: ETH Hits $1,800 — Analysts Say This Is the Last Stop Before a Much Bigger Drop

TLDR

• ETH dropped to $1,814, its lowest price in 14 weeks
• The $1,800 level is seen as the last key support before deeper losses
• Spot Ethereum ETFs recorded 16 straight days of outflows, totaling nearly $847 million
• The Coinbase Premium Index fell to its lowest since February, showing weak US demand
• Long-term holders have been selling, adding to downside pressure

Ethereum has fallen sharply this week, touching $1,814 on Bitstamp — a level not seen since early February. The move has put the critical $1,800 support zone under the spotlight.

Analyst Ted Pillows posted on X Wednesday, warning that $1,800 is “the last support zone for Ethereum before new lows.” His chart showed that a break below that level would open the door to a drop toward $1,700 and potentially lower.

Other analysts share that concern. CrypDoMillions said losing $1,800 would push ETH toward $1,600. Analyst BitFrog was more direct, saying ETH is “on life support” and that “$1,800 looks shaky, honestly.”

The daily RSI fell to 21, deep in oversold territory. While this can signal a potential bounce, it also reflects how much selling pressure has built up over recent weeks.

ETF Outflows and Weak US Demand

Spot Ethereum ETFs have now posted outflows for 16 consecutive days — the longest losing streak since their launch in July 2024. Investors pulled nearly $847 million from these products over that stretch, according to SoSoValue data.

The Coinbase Premium Index, which compares ETH prices on Coinbase versus Binance, dropped to -0.16 on May 28. A negative reading means US investors are selling at a discount to the global market. Analyst Inoms noted on X that “US demand is still weak.”

Global Ethereum investment products also saw $257 million in outflows last week, pointing to broad institutional selling.

Long-Term Holders Selling

The ETH Age Consumed metric spiked over the past two days. This tracks movement of previously idle tokens, and a spike suggests long-term holders are selling.

Most of that selling is coming from underwater positions. Realized losses have been consistent since April, meaning many holders have been exiting at a loss.

On the derivatives side, open interest remains above 15 million Ethereum and funding rates are still positive. CryptoQuant analyst Arab Chain noted this gap between price action and trader positioning, warning that overcrowded long positions could force liquidations if prices continue falling.

On-chain data from Glassnode shows there is limited demand between $1,800 and $1,250. If selling continues, ETH could find stronger support around $1,200, where over 1.4 million ETH were acquired.

The next downside levels to watch are $1,740, then $1,524, and a deeper floor near $1,404, based on current technical structure. ETH is trading below its 20-, 50-, and 100-day EMAs, which are clustered between $2,030 and $2,245.

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