Ethereum price plunged below $1,600 over the weekend as BTC’s slide ignited sharp liquidations across major altcoins, including ETH.

Ethereum (ETH) dips below $1,700 as BTC Weakness Spreads to Atcoin Markets 

Ethereum (ETH) sharply turned bearish over the weekend as bearish headwins from the US trade war extended towards the crypto sector.

On Sunday April 6, ETH price dropped to a 3-week low near $1,650 on Sunday, April 6, tracking Bitcoin’s rapid decline below the psychologically critical $80,000 mark.

Bitcoin weekend slump triggered panic across altcoin markets, and Ethereum was no exception—recording a sharp 11.24% drop within 24 hours.

Ethereum (ETH) Price Action, April 6 | Source: CoinMarketCap

According to data from CoinMarketCap, the 11% downtrend representing its lowest intraday print since mid-March.

The move erased nearly all of last week’s gains, which had come after Ethereum briefly climbed above $1,770 during Thursday’s risk-off rally sparked by China’s reciprocal tariffs.

The initial ETH bullish momentum, however, has unraveled as BTC bulls failed to sustain upside pressure into the weekend, leading to cascading losses across the broader crypto ecosystem.

Ethereum Liquidation Map Shows ETH Bulls Have $79M Lifeline at $1,554

Coinglass liquidation data paints a grim but actionable picture for ETH traders. Over the past 24 hours, Ethereum has seen more than $164.7 million in long liquidations—second only to Bitcoin, which accounted for $203.7 million.

The bulk of these liquidations occurred during Sunday’s swift plunge, suggesting bulls were heavily leveraged during BTC’s decline.

Ethereum (ETH) Liquidation Heatmap | Source: Coinglass

The Ethereum liquidation heatmap from Coinglass highlights a significant support concentration around the $1,550–$1,570 region. Specifically, over $76.2 million in leveraged long interest is stacked at the $1,554 level.

This zone now acts as a key inflection point: if ETH price defends this level, it could serve as a springboard for recovery as bargain buyers step in. However, if that support crumbles, a steeper correction toward $1,480 or even $1,420 could play out, as there are few notable liquidity cushions below that range.

With Bitcoin still struggling below $80,000, Ethereum’s near-term prospects remain fragile. Until BTC reclaims lost ground and market confidence stabilizes, ETH bulls face the dual threat of weak price action and thinning order book support.

For now, all eyes remain on the $1,554 liquidation cluster. A strong defense of this level, combined with increased market volumes could prevent further losses. Otherwise, Ethereum’s next leg may head deeper into the low-$1,500s, as bears tighten their grip heading into the new trading week.

Ethereum Price Forecast: ETH Risks $1,480 as RSI Hits Oversold and Price Breaks Below $1,655 VWAP

Ethereum price forecast signals lean negative, having plunged 11.73% to $1,594—its largest single-day loss in over a month. This decline was fueled by Bitcoin’s collapse below $80,000, triggering cross-market liquidations that erased recent gains across the altcoin complex.

Ethereum’s rejection near $1,800 and breakdown through $1,655—the VWAP level—confirms renewed downside momentum, with ETH now trading decisively below its 8-EMA and 21-EMA.

Ethereum Price Forecast

The Ethereum price forecast now leans cautiously bearish as technical indicators deteriorate.

The daily RSI prints 28.59, confirming oversold territory for the first time since early March. While this suggests a short-term bounce could develop, it also reflects capitulation from bulls, especially as the broader trend structure continues to weaken.

Price action is now below the 50-day SMA at $1,787 and far under the 200-day SMA at $1,894—both critical resistance levels that previously provided directional bias for long setups.

A bullish defense at $1,555 could stabilise sentiment, but failure to hold that lifeline increases the likelihood of testing $1,480, a key liquidity pocket. Unless Bitcoin reclaims $80K soon, Ethereum may remain vulnerable to further weakness. Near-term recovery will depend on buyers reclaiming $1,655 and sustaining momentum above the short-term EMAs.

The post Ethereum Price Forecast: Coinglass Shows Key Levels ETH Traders Must Watch as BTC Trades Below $80K appeared first on CoinGape.

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Filed under: News - @ April 6, 2025 10:02 pm