Ethereum Tests ₱108,944 ($1,800) Support as ₱121,049 ($2,000) Floor Fails
Ethereum's price has declined below ₱121,049 ($2,000), with analysts now watching the $1,800 demand zone as the next critical floor. The breakdown follows weakening momentum on longer timeframes.
Key Takeaway
Ethereum's technical setup warns of $1,800 test, but Citigroup still sees $5,440 ahead.
Ethereum's $2,000 support level has broken, with analysts watching the $1,800 demand zone as the next critical floor.
The 200-day moving average has sloped downward since March 28, pointing to weak long-term momentum. But the 50-day moving average on the four-hour timeframe slopes upward, suggesting short-term buyers are still active. If the $1,800 zone breaks, a deeper correction could follow.
Citigroup analysts remain optimistic despite the technical weakness. The bank raised its 12-month Ethereum forecast to $5,440, citing rising investor demand and inflows into ether-linked products. That forecast came after an earlier September 2025 target of $4,300, which pointed to broader Ethereum network use as a key driver.
The disconnect between Wall Street's bullish long-term outlook and the current technical setup highlights the uncertainty facing Ethereum holders. Short-term price action suggests caution, while Citigroup still expects $5,440 within 12 months.
This article was written based on reporting from CryptoPotato.
