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Ethereum Drops Below $1,600-Is This a Golden Buying Zone or a Bearish Breakdown?

Irene Mukiri by Irene Mukiri
April 16, 2025
in Binance Feed, Market
Reading Time: 4 mins read
Ethereum Drops Below $1,600—Is This a Golden Buying Zone or a Bearish Breakdown
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  • Ethereum tests major support zone near $1,550, signaling potential long-term entry.
  • Capital allocators shift to ETH vaults, boosting staking amid bearish conditions.
  • Short-term trend remains bearish unless ETH reclaims $1,660–$1,680 resistance range.

Ethereum’s recent price action has left many traders uncertain, but analysts suggest the current dip could offer long-term value. After trading between $3,000 and $4,000 in previous cycles, ETH has now fallen below critical support zones. 

The price currently hovers at $1,566.46, marking a steep decline from earlier highs. However, some market analysts believe that this selloff might present a strong entry point for long-term believers in the asset.

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Critical Support Tested as Downtrend Deepens

According to Crypto Rover, Ethereum has broken below a long-standing ascending trendline and the psychological $2,000 support level. The asset now tests a crucial zone between $1,550 and $1,600—a region that previously served as a major accumulation area between mid-2022 and early 2023. 

Source: X

A sustained breakdown beneath this level could expose Ethereum to deeper losses, possibly targeting $1,500 or even lower. However, Rover points out that if investors were excited to buy ETH at $3,000 or more, this discounted price range should spark even greater interest.

Besides technical signals, long-term value may also come from broader trends in capital allocation. According to data from CryptoRank, top on-chain capital allocators are turning to high-yield Ethereum vaults as a way to enhance returns during bearish phases. 

Top 5 High-Yield Ethereum Vaults from the Largest On-Chain Capital Allocators by TVL

With Ethereum’s price on the decline, many long-term holders are seeking ways to extract additional value from their holdings. We analyzed the top five on-chain capital allocators by total value… pic.twitter.com/k8156dFKIF

— CryptoRank.io (@CryptoRank_io) April 15, 2025

With Ethereum’s price sliding, many holders are opting to earn passive income rather than sell at a loss. These vaults, ranked by total value locked (TVL) and yield, reflect a growing interest in maximizing returns through staking and DeFi protocols.

Short-Term Bearish Signals Point to Caution

On a shorter timeframe, analyst Ali Martinez notes bearish developments in Ethereum’s price action. He highlights a breakdown from an ascending triangle pattern on the hourly chart, signaling weakening buyer momentum. 

#Ethereum $ETH is breaking out of an ascending triangle in the hourly chart! pic.twitter.com/4CXEgxFaXo

— Ali (@ali_charts) April 16, 2025

Ethereum failed to break above $1,680 and has since lost trendline support near $1,620. If support at $1,580–$1,600 fails, downside targets include $1,540 and $1,500. Martinez adds that reclaiming the $1,660–$1,680 range is crucial to restore short-term bullish sentiment.

Additionally, Ethereum has declined 4.64% in the past 24 hours, though it still shows a 7.20% gain over the past week. This suggests high volatility with mixed sentiment. 

Tags: Ethereum (ETH) NewsPrice Analysis

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