Ethereum traders are bracing for a decisive weekly close as the cryptocurrency hovers near the $1,850 support level. Technical indicators are flashing warnings that a break below this line could send prices tumbling to $1,070 — a level not seen in over two years. The outcome of this week's candle will likely set the tone for June.
The $1,850 line in the sand
This level has acted as a floor during previous selloffs, but repeated tests have weakened its reliability. A weekly close below $1,850 would confirm a breakdown, opening the door to the next major support zone around $1,070. That represents a potential loss of roughly 42% from current prices — a move that would erase most of the gains made since late 2025.
What happens if support holds
If Ethereum manages to close above $1,850, the immediate bearish thesis would be weakened. However, the broader trend remains fragile. A bounce from here could face resistance at the $2,100-$2,200 range, which has capped rallies in recent weeks. Traders will be watching the Sunday close as the first real signal of direction.
The weekly candle closes at 00:00 UTC on Monday. Until then, all eyes are on $1,850.
