Ethereum took a sharp hit this week, falling below the $1,800 mark and briefly touching a low of $1,716 on Thursday. The move extends a broader decline that has traders watching closely — the next major support sits just $16 lower at $1,700. If that fails, the charts point to $1,665 and $1,640 as potential landing zones.
Where the key levels sit
On the hourly charts, ETH/USD has carved out clear resistance at $1,800 and $1,820. A breakout above $1,850 would be needed to shift the momentum, with a possible recovery toward $1,880–$1,920. But for now, the immediate action is at $1,720 — that's the first floor that's held during the session.
Technical signs stay bearish
The MACD, RSI, and the 100-hourly simple moving average are all pointing south on the hourly timeframe. That's three consecutive confirmations of bearish pressure. Sustained buying above $1,850 would be required to flip the script.
What traders are watching next
The $1,700 level is the big one. It's a psychological round number and a prior support zone. A break below that opens the door to $1,665, then $1,640. There's no clear catalyst cited — just steady selling and weak bids. The next few sessions will tell whether $1,700 holds or ETH searches for a lower floor.
