Ethereum Price Analysis: ETH Price is at Risk of $1,800 Test After Derivatives Wipe-Out

$1,820–$1,850 – next weekly demand zone
$1,530 – major macro structural support

Weekly RSI has dropped toward the low-30 region, approaching oversold territory. However, there is no confirmed bullish divergence, and the price remains below broken support. Until Ethereum reclaims $2,150–$2,200, trend control stays with sellers. On the other hand, the weekly CMF has dropped to -0.12, hinting towards a significant outflow of capital. However, the token continues to defend the rising trendline, which is also the neckline of the head-and-shoulders pattern, keeping the bullish prospects alive.

Will the ETH Price Drop Below $1800?

The bearish narrative may only weaken when the Ethereum (ETH) price reclaims the $2150-$2200 resistance zone. On the other hand, the open interest stabilises, and exchange reserves resume their broader downtrend. Without these signals, the current setup favours continued caution. Besides, with momentum pointing lower and participation cooling, the $1,820 support zone becomes the next decisive test.

The coming sessions will determine whether Ethereum stabilises after the derivatives flush or extends its correction toward deeper macro support.

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