Ethereum Price News: ETH Risks Dip to $1,800 as Bears Are Still in Control

Ethereum (ETH) has gone up by 2% in the past 24 hours, slightly above the $2,000 threshold, as the Iran war continues to put pressure on the global economy via higher oil prices.

Macroeconomic conditions have worsened as the price of oil climbed above $100 once again. This puts pressure on risky assets as it increases the risk of high inflation and may force the U.S. Federal Reserve to postpone this year’s planned interest rate cuts.

Trading volumes spiked by 150% in the past 24 hours as well, rising to nearly $19 billion and accounting for almost 9% of ETH’s circulating market cap.

On Sunday, ETH briefly dipped below $2,000. Investors seem to have bought the dip thus far, but the selling pressure has persisted during the American session as the token retreated from a session high of $2,085 to $2,036 at the time of writing.

On-Chain Data Indicates that ETH Could Soon Make a Local Bottom

We have been tracking for a while a specific on-chain metric that acted as a good indicator of a trend reversal for ETH.

The MVRV Ratio tracked the relationship between the token’s market value and realized value, which is an estimate of the price at which every token in circulation was bought.

When this indicator dips below 0%, it means that a larger percentage of holders are sitting in losses. However, when it plateaus and consolidates around a certain level for a while, it can provide an early hint that the market has entered a phase of accumulation once again.

We saw a similar pattern unfold in April 2025, before ETH started its ascent to a new all-time high. Hence, this cycle’s bottom could be nearby, and, based on the latest readings, we see the $1,800 level as the most likely floor for the top altcoin.

Ethereum Could Still Drop to $1,800 This Week

As we highlighted in previous Ethereum price predictions, a “fakeout” on March 16 set the stage for the continuation of ETH’s rally, as bulls could have been trapped by the token’s move above $2,150 and may get wiped out if bulls fail to keep the price above the $2,000 threshold.

This rebound above the $2,000 level is expected, as this is a key psychological threshold. These volumes could ignite a short-lived bounce to the $2,150 resistance, but, thus far, the odds continue to favor bears.

After a closer look at Ethereum’s daily chart, we expect that ETH will continue to move lower, toward the $1,800 over the next few days, especially if oil prices keep rising.

The Relative Strength Index (RSI) broke below the 14-day moving average, indicating that bearish momentum is accelerating.

Moreover, the oscillator briefly dipped below 40. If it does that once again, that would be further evidence that sellers are in full control of the price action.

The only scenario in which this bullish outlook would be invalidated would require a move above $2,150. That could result in a major short squeeze that could prompt an uptick similar to the one we saw on March 16.

We don’t expect a breakout below $1,800 for the time being. However, if it happens, the next stop for ETH would be the April 2025 lows of $1,450 per token.