Ethereum Price Prediction: Is ETH Building a Base at $1.8K or Preparing for $1.5K?

Ethereum remains under continued downward pressure after February’s liquidation cascade, with its price now stabilizing around the mid-$1,800s.

The broader structure still reflects a cyclical correction rather than a completed low, but near-term momentum has cooled and the market is trying to build a base above a key higher-timeframe demand region.

Ethereum Price Analysis: The Daily Chart

On the daily chart, ETH trades within a well-defined descending channel, with the price currently reaching the lower half of the structure, around $1,800-$1,850. The breakdown of the $2,300–$2,400 support block and rejection well below the declining 100- and 200-day moving averages confirm a medium-term bearish trend, while the daily RSI remains depressed near oversold territory, consistent with a strong extended move.

The immediate technical focus is on the horizontal demand band around $1,750-$1,800, and continued consolidation above this area could allow an average return to the $2,000-$2,200 zone, while a decisive loss there would open the door to deeper support closer to $1,500-$1,600 and the channel lower boundary.

ETH/USDT 4-hour chart

On the 4-hour chart, the previous ascending support line from the early February low has been broken and the asset is now consolidating just below that trendline within the same demand zone of $1,750-$1,850. Short-term momentum is weak but is no longer accelerating lower, with the RSI flattening after an oversold print, often preceding a sideways consolidation or corrective recovery.

As long as the market holds above the recent intraday lows around $1,750, the structure allows for a retracement towards $1,900-$1,950, where the prior range floor and the short-term moving averages converge. Failure to defend the $1,780 area would likely lead to another round of selling towards the next liquidity pocket below $1,700.

Analysis in the chain

The positioning in perpetual futures reflects a decidedly defensive stance: Funding rates on the major exchanges have turned sharply negative and remain below zero after the recent decline, indicating that short positions are becoming long positions and the derivatives market is trending toward bearish exposure.

This shift follows an extended period of mostly positive funding during the previous uptrend, suggesting that much of the current movement has been driven by aggressive shorting and long liquidations, rather than just organic spot selling.

While continued negative financing could amplify downward pressure if spot demand remains weak, combined with an oversold technical backdrop, it also creates the conditions for a short squeeze if prices stabilize and buyers intervene around the current support cluster.