{"id":64127,"date":"2025-05-04T22:00:20","date_gmt":"2025-05-04T22:00:20","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=64127"},"modified":"2025-05-04T22:00:20","modified_gmt":"2025-05-04T22:00:20","slug":"ethereum-price-sits-above-crucial-support-level-is-a-fall-to-1500-possible","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=64127","title":{"rendered":"Ethereum Price Sits Above Crucial Support Level \u2014 Is A Fall To $1,500 Possible?"},"content":{"rendered":"

The quick burst of bullish momentum<\/a> in the crypto market in the closing weeks of April saw the Ethereum price close the month above $1,800. However, the altcoin failed to end the month in profit, making April its fourth consecutive month with a negative performance. According to the latest on-chain data, the Ethereum price seems to be sitting above a crucial support level, which could determine the altcoin\u2019s trajectory over the next few weeks.<\/p>\n

ETH Price At Risk Of Falling To $1,772<\/h2>\n

In a May 3 post on the X platform, prominent crypto analyst Ali Martinez revealed<\/a> that the price of Ethereum might be at a critical juncture that could decide its short-term future. Based on the latest on-chain data, the altcoin is at risk of falling to around $1,500 should it lose this support level in the coming days.<\/p>\n

This on-chain evaluation of the Ethereum price revolves around the average cost bases of several Ethereum investors. In crypto trading, cost-basis analysis determines a price level\u2019s capacity to serve as support or resistance based on the volume of coins last acquired by investors in the region.<\/p>\n

As shown in the above chart, the size of the dot (green and red) represents and directly corresponds to the number of Ether tokens bought within a price region. The larger the circle, the higher the amount of tokens bought in and around the price zone, and the stronger the resistance or support level.<\/p>\n

According to data from IntoTheBlock<\/a>, more than 6.36 million ETH tokens were purchased by 4.5 million addresses within the price range of $1,772 and $1,824 (at an average price of $1,799). As explained earlier, the high buying activity within this price zone has led to the formation of a major support level just beneath the current price.<\/p>\n

The Ethereum price is expected to bounce back when it falls to this level. The rationale behind this expectation is that when the ETH price returns to around $1,772, investors with their cost bases in and around this level are likely to defend their positions by buying more tokens, helping the price to stay afloat the support region<\/a>.<\/p>\n

However, the highlighted chart shows that the price levels beneath the $1,772 support level have significantly less investor activity. This suggests that the Ethereum price could fall to around $1,500 without catching a break if $1,772 is breached. On the flip side, the price of ETH could travel to as high as $2,100 if this support level remains unbreached, as no significant resistance lies ahead.<\/p>\n

Ethereum Price At A Glance<\/h2>\n

As of this writing, the ETH token is valued at around $1,830, reflecting an almost 1% increase in the past 24 hours.<\/p>","protected":false},"excerpt":{"rendered":"

The quick burst of bullish momentum in the crypto market in the closing weeks of April saw the Ethereum price close the month above $1,800. However, the altcoin failed to end the month in profit, making April its fourth consecutive month with a negative performance. According to the latest on-chain data, the Ethereum price seems […]<\/p>\n","protected":false},"author":0,"featured_media":64128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-64127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/64127"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64127"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/64127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/64128"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}