Ethereum Price Slides to $1,560 as Analysts Warn of $1,400 and $1,070 Targets

Key Insights

• Ethereum price has reached the $1,560 downside target highlighted by Ali Charts.
• Analysts are now monitoring $1,400 and $1,070 as the next major support zones.
• A wallet linked to Joseph Lubin moved 110,000 ETH into MakerDAO-related addresses.

Ethereum price extended its decline this week and reached the $1,560 support area that several analysts had been monitoring. The move pushed ETH to fresh yearly lows and intensified concerns that a deeper correction could follow if buyers fail to defend current levels.

Market participants are now divided. Some analysts believe Ethereum has entered a long-term accumulation zone, while others continue to project downside toward lower support areas. At the same time, a large Ethereum transfer linked to co-founder Joseph Lubin attracted attention across the market.

Ethereum Price Reaches Critical Support Area

Ethereum price has now reached the $1,560 target highlighted by Ali Charts, placing the asset near one of the most-watched support levels on the weekly chart. His chart showed ETH trading around $1,549 after falling below $2,282 and losing momentum from its previous rebound area.

The same setup now points to $1,070 as the next downside target if selling pressure continues. That level appears near a major historical support band on the weekly chart, which previously marked important demand during earlier cycle lows.

Notably, this move follows weeks of weakness after ETH failed to hold higher resistance levels. The chart shows Ethereum has moved sharply away from the $3,335 and $4,868 zones, leaving bulls with fewer nearby support levels to defend.

A clean recovery would need ETH to reclaim broken support and move back above the lower resistance region. Until that happens, traders are treating each bounce as a possible relief move rather than a confirmed trend reversal.

Traders Watch the ETH Crypto Long-Term Support Zone

Meanwhile, World Of Charts shared a broader ETH structure showing price returning to a long-term support zone. The chart placed Ethereum price near a multi-year ascending trendline, with price testing an area that has supported several major rebounds in past cycles.

The analyst described the current area as favorable for spot accumulation, suggesting that ETH below $2,000 may interest long-term buyers. The chart also shows a possible rebound path if Ethereum defends the support zone and breaks its descending structure.

However, confirmation remains missing. ETH still needs a strong weekly response from the current region before traders can argue that a bottom is forming. Without that reaction, the support zone remains vulnerable.

This creates a divided setup. Long-term buyers may see value near current levels, while short-term traders still see pressure from lower highs, broken support, and weak momentum.

Ethereum Price Bearish Count Keeps $1,400 in Focus

However, More Crypto Online’s chart presented a more cautious view. The analysis said Ethereum price remains in a broader bearish structure after breaking down from a bear flag and rejecting a yellow trendline resistance.

According to the chart, ETH price is progressing through a larger corrective C-wave decline. The first support area sits near $1,550, while the next key support is around $1,400. These levels are now central to the short-term outlook.

The chart also marks Fibonacci levels around $1,818, $1,598, and $1,554. Ethereum has already reacted near the first lower support area, but the analyst warned that reactions from support can still become corrective bounces.

A stronger recovery would require ETH crypto to reclaim the yellow trendline resistance and move above key resistance levels. Until then, the bearish setup remains active, with $1,400 still in view.

Large ETH Crypto Outflow Adds Pressure

Additionally, a wallet reportedly linked to Ethereum co-founder Joseph Lubin moved 110,000 ETH, worth about $170.78 million, to new addresses. The transfers came in three large batches of 30,000 ETH, 40,000 ETH, and another 40,000 ETH.

According to the on-chain data shared, they went through intermediary addresses, where ETH was wrapped into WETH and added as collateral in MakerDAO. The move strengthened a vault now holding more than 137,000 WETH against $209 million in borrowed DAI.

The adjustment lifted the vault’s health factor above 1.16 after ETH fell below $1,600. That points more toward routine DeFi risk management than a confirmed sell-off. Still, the transfer drew attention as the wallet had not recorded an outflow in more than three years.

The post Ethereum Price Slides to $1,560 as Analysts Warn of $1,400 and $1,070 Targets appeared first on The Market Periodical.