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Ethereum ($ETH) is back on the knife’s edge, and market analyst Crypto Patel has suggested that there may be no room left for optimism if the next key level gives way. According to the analyst, the Ethereum price is hovering at a critical decision point beneath $2,000 after recording multiple price declines. However, a breakdown below $1,800 could trigger a massive crash.
Ethereum Records Multiple Failed Bullish Structures
In an X post this Monday, Crypto Patel admitted that Ethereum had broken his heart twice, pointing to two failed bullish structures that have now reshaped its broader outlook. The first dagger, as the analyst calls it, came when a clean Bull Flag formation emerged, and price broke down from the $3,700 region.
On the chart, that breakdown marked the end of a multi-month climb that had pushed the $ETH price toward the $4,700 to $4,900 area in late summer 2025 before rolling over under a descending trendline that capped every rally attempt.
The second dagger followed months later as an ascending triangle structure collapsed at the critical $3,000 support zone. What had looked like a tightening consolidation beneath horizontal resistance instead turned into a decisive breakdown. The former support zone around $3,100 to $3,500 flipped into resistance, marked by repeated rejection wicks and lower highs pressing against the descending purple trendline on the chart.
Based on Crypto Patel’s analysis, that failure led to a sharp drop below $2,000. Consequently, Ethereum is now trading between $2,000 and $1,850, a range the analyst describes as the last buffer before a much deeper pullback.
$1,800 Emerges As $ETH’s Critical Support
On the daily timeframe, Crypto Patel’s chart shows $ETH recently printing around $1,982 after a sharp sell-off that sliced through its previous structure. Although the cryptocurrency has recovered slightly above $1,990, the previous decline had driven its price down from roughly $3,100 in early 2026 to sub-$2,000 levels in a matter of weeks. This left a visible imbalance zone between $2,400 and $2,600, which the analyst marks as a potential Fair Value Gap (FVG).
For now, all attention is on $1,800. Crypto Patel has predicted that if Ethereum holds this critical support, a relief bounce toward $2,650 becomes the immediate upside target, likely filling part of that imbalance zone and retesting former breakdown areas.
On the flip side, if $1,800 fails, a broader market panic may become justified. According to Crypto Patel, a decisive break below this support could open the path toward $1,300, marked by the lower green demand block on the chart. He has also labeled this region as strong support and the best accumulation zone, where buyers could step in aggressively.
Featured image from iStock, chart from Tradingview.com
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