Ethereum is testing critical support at $1,850. A confirmed breakdown could send ETH toward $1,780, while bulls target a recovery above $1,881. | Credit: CCN.com
Share
Key Takeaways
Ethereum is testing critical support around $1,850 after falling below the psychologically important $1,900 level.
A sustained break below $1,848.50 could expose $1,820 before opening the door to a deeper decline toward $1,788–$1,780.
Bulls must reclaim $1,881.50 to begin repairing the bearish structure, with $1,929 and $1,961 representing the next major resistance levels.
Ethereum is approaching a decisive technical test after falling below $1,900 over the weekend and returning to a heavily defended support zone around $1,850.
ETH futures recently traded near $1,860 after retreating from Sunday’s $1,903.50 high. While bears retain a modest advantage, sellers have yet to establish sustained trading below the critical $1,848.50 threshold.
The resulting compression leaves Ethereum vulnerable to a sharp move in either direction. A confirmed breakdown could expose the $1,780 region, while a recovery above $1,881.50 would suggest that buyers are beginning to repair the short-term market structure.
Try Our Recommended Crypto Exchanges
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
Ethereum Bears Control Momentum, but $1,850 Still Holds
Ethereum’s recent price action favors sellers. An attempt to establish value between $1,930 and $1,943 failed, despite ETH futures briefly reaching $1,946 on July 30. The cryptocurrency subsequently lost the psychological $1,900 level and dropped toward $1,852.
Later recovery attempts also struggled. A rebound from approximately $1,850 stalled at $1,881.50, while Sunday’s move to $1,903.50 was quickly rejected.
More importantly, accepted trading activity has shifted lower. The session’s value-area high moved from roughly $1,889 to $1,878.50, while the point of control, the price attracting the greatest trading volume, fell from about $1,872 to $1,860.50.
This migration indicates that traders are becoming increasingly comfortable transacting at lower prices.
Nevertheless, support between $1,848.50 and $1,857.50 remains intact. Declining hourly volume and narrower trading ranges may also indicate that selling momentum is weakening as ETH approaches this zone.
Breakdown Could Send ETH Toward $1,780
The principal bearish trigger sits at $1,848.50. A brief move beneath $1,850 would not necessarily confirm further losses because it could represent a liquidity sweep followed by a rapid recovery.
Stronger confirmation would require ETH to remain below $1,848.50, fail to reclaim the $1,849-$1,852 range and begin attracting significant volume beneath the broken support.
Under that scenario, the first downside targets would sit around $1,844-$1,840 and $1,837-$1,833. Accelerating selling could then push Ethereum toward $1,822-$1,820.
The daily chart points to another support level near $1,809.
A more substantial breakdown would expose the $1,788-$1,780 region, which aligns with the previous monthly value-area low and the approximate breakout point of Ethereum’s earlier bull-flag structure.
In an extended decline, $1,766 could also come into focus.
BitMine Purchases Offer a Bullish Counterweight
Institutional accumulation provides some support for the longer-term Ethereum outlook. Treasury company BitMine Immersion Technologies acquired another 10,399 ETH last week, raising its holdings to 5.797 million ETH, approximately 4.8% of the cryptocurrency’s circulating supply.
BitMine has staked 4.917 million ETH through its Made in America Validator Network and expects approximately $247 million in annualized staking revenue, based on a seven-day yield of 2.67%.
🧵 1/ BitMine provided its latest holdings update for August 3, 2026
$11.3 billion in total crypto + "moonshots": – 55,797,813 ETH at $1,880 per ETH per ETH (per @coinbase) – 209 Bitcoin (BTC) – $180 million stake in Beast Industries @MrBeast – $61 million stake in Eightco…
Technically, bulls still need to reclaim $1,881.50 to reverse the immediate bearish structure. That could open the way toward $1,888, $1,900 and $1,919.50.
A sustained move above the 100-day exponential moving average near $1,929 would strengthen the recovery case, potentially bringing $1,961 and eventually $2,000 back into view.
Until either $1,848.50 or $1,881.50 breaks decisively, however, Ethereum remains trapped in a narrow decision zone where false breakouts are a significant risk.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
