Ethereum Price Gets Crushed To $1,840 Amid Relentless Selling Pressure

Ethereum collapsed to $1,840 amid sustained selling pressure, breaking below key support levels including a contracting triangle at $1,975. The cryptocurrency trades below its 100-hourly moving average with bearish technical indicators, setting up potential further downside toward $1,820 if resistance at $1,950 fails to hold.

Ethereum's sharp decline to $1,840 reflects a significant technical breakdown that extends beyond isolated price movement. The breach of the contracting triangle—a pattern typically associated with resolution in the direction of the preceding trend—signals continued selling momentum in a bearish environment. The cryptocurrency's failure to stabilize above $2,000 despite prior support suggests institutional or large-holder capitulation, particularly as the move mirrors concurrent Bitcoin weakness.

The technical setup reveals escalating bearish pressure through multiple confirmation signals. The MACD momentum indicator remains in bearish territory and accelerating downward, while the RSI has dropped below 50, indicating loss of buying momentum. These indicators collectively suggest the decline is not yet exhausted. The placement of ETH below the 23.6% Fibonacci retracement level indicates bears have control of the price discovery process.

For market participants, this breakdown carries implications across derivative positions and liquidation cascades on leveraged platforms. Short-term traders holding long positions face immediate pressure if support at $1,840 breaks, opening the path toward $1,820 and potentially $1,780. However, the identification of multiple support clusters between $1,740–$1,820 suggests eventual buyer interest at these depressed levels.

The near-term trajectory depends on whether bulls can recapture $1,950 resistance. Failure to do so could accelerate liquidations and trigger algorithmic selling, while successful recapture would need to overcome the 50% Fibonacci retracement at $1,920 before attempting a recovery toward $2,000. Current technical conditions favor bears in the short to medium term.

• →Ethereum broke below a contracting triangle with support at $1,975, signaling continued bearish momentum.
• →Price currently consolidates at $1,840 with major support levels at $1,820, $1,780, and $1,720 if selling persists.
• →MACD shows accelerating bearish momentum while RSI remains below 50, indicating weak buying pressure.
• →Resistance at $1,950 and $1,920 must hold to prevent further downside toward $1,780–$1,820.
• →Recovery above $1,950 would target $2,000–$2,020, but current technicals favor continued downward pressure.