$ETH Ethereum fell 5.89% in 24 hours to $1,680, bringing the $1,600 and $1,400 levels into focus.

Ethereum dropped 5.89% in 24 hours to $1,680, and the $1,600 level became prominent for $ETH.
With the loss of the $1,825 support, analysts began watching the $1,603 and $1,409 regions.
The daily RSI data fell to the 18.45-22.53 range, strengthening the oversold signal in the market.
Despite this, while 3.10 million ETH are waiting to be staked, the unstake queue remains at 49,738 ETH.
The Ethereum price continued its weak performance after failing to hold key support areas. The asset fell 5.89% in the last 24 hours, trading around $1,680. Analysts stated that the loss of the $1,825 support level has disrupted the short-term outlook, bringing the $1,600 and $1,400 range back into focus.
Technically, the most notable break was the fall below the $1,825 level, previously considered a strong base. The market interpreted this loss as a sign that the short-term structure has shifted downwards. Accordingly, the old support level now stands out as a resistance zone, and buyers are expected to make their first strong reaction around $1,600.
This doesn't mean the price will directly fall to $1,400. However, if buying interest remains weak, the possibility of testing lower liquidity zones remains. Especially if the $1,600 level cannot be maintained, the $1,400 region could become a stronger scenario.
$1,825 Lost old support, new resistance
$1,603 Next support zone to watch closely
$1,409 Key area in a deeper pullback
While price pressure persists, momentum indicators point to oversold conditions in the market. The daily RSI data, seen around 18.45 in one chart and 22.53 in another, presents an unusually weak picture for Ethereum.
The current situation in the shared charts was compared to the pandemic-era crash and the sharp sell-off after FTX. While such periods indicate intense pressure, some investors also view them as areas where sellers are beginning to lose power.
Staking data diverges while weakness persists in the broader view
It was reported that Ethereum broke below the ascending channel structure in broader timeframes, confirming the larger-scale weakness. Some charts considered the movement as part of a possible ABC correction structure, with the potential buying zone shown to be between $1,400 and $1,600.
However, on-network data revealed a different picture. According to the data, approximately 3.10 million ETH, or about $5.45 billion worth, is waiting to be staked on the network. In contrast, the amount waiting to be unstaked remains at 49,738 ETH.
This difference indicates that long-term investors are not exiting the network quickly. While the price outlook is under pressure in the short term, the fact that staking inflows are significantly higher than outflows suggests that longer-term confidence has not been completely lost.
Eyes on the $1,600 level in the short term
The current outlook for Ethereum remains fragile in the short term. As long as the price stays below $1,825 and below the $1,750 level, the $1,600 and $1,400 targets remain technically valid. However, if buyers mount a strong defense around $1,600, a rebound towards the $1,750 to $1,825 range could be seen.
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