Ethereum’s price dropped sharply to $1,520 during the early Asian trading hours, marking a nearly 20% plunge in under 24 hours. The broader cryptocurrency market has shed $410 billion over the past two weeks, aligning with a sharp sell-off in global equity markets. The trigger? A renewed trade war shock from President Trump’s sweeping tariff policy.
Markets across Asia, including Taiwan, Japan, Singapore, and Australia, saw trading halts after heavy sell-offs triggered automatic circuit breakers. U.S. Russell Futures were also affected, underscoring how deeply connected global markets have become. While equities benefit from structured circuit breakers to stem panic selling, crypto markets lack this safety net—often resulting in steeper, unrestrained declines.
As investors digest the news, Ethereum’s steep fall is raising concerns about further downside risk. Yet for some, this may represent a potential buying opportunity.
ETH Nears Critical Support Zones
Ethereum is currently hovering near a pivotal support level at $1,504, the midpoint of a historical price range between $1,073 and $1,934, established between July 2022 and October 2023. This level often acts as a price magnet in high-volatility conditions.
If the $1,504 level fails to hold, the next key area is an order block at $1,278, formed in December 2022. That support zone previously sparked a 77% rally over a four-month period, indicating strong historical demand. A retest could once again ignite bullish interest.
If both levels break under selling pressure, the final critical support lies at $1,073, marking the low of the previously established range.
Key Ethereum Support Levels:
- $1,504 – Mid-range support
- $1,278 – Demand zone from Dec. 2022
- $1,073 – Final range low and last defense
Outlook: Can ETH Rebound or Is More Pain Ahead?
Ethereum’s short-term outlook remains bearish unless bulls successfully defend key support zones. Much will depend on the continuation—or reversal—of macroeconomic pressures, especially if the tariff conflict escalates.
Notably, Bitcoin has historically acted as a hedge during financial uncertainty. If capital begins flowing back into BTC as a safer digital asset, Ethereum could follow in a secondary rally phase. Still, the absence of crypto market safeguards makes it difficult to predict where sentiment may turn next.
Investors should closely watch how ETH behaves at $1,504 and whether Bitcoin can hold ground above $80,000. For now, caution remains the prevailing sentiment.
