Ethereum crashed below $1,500 this weekend pushed the feeling into one of its scariest phases since the previous bear market, but crypto analyst Crypto Patel believes the current liquidation must be seen through a longer lens. The analyst’s roadmap places ETH in a wide accumulation range, with the chart showing that the same movement as Ethereum’s previous highs and lows continues and Ethereum could decline into an accumulation zone.
Ethereum enters panic zone as price revisits $1,500
Ethereum’s weekend drop brought ETH back to near $1,500, extending a painful correction that has already erased much of the gains since its August 2025 ATH. Recent market data from TradingView shows that ETH briefly touched $1,505 on Saturday, June 6, during a crypto market-wide liquidation, a move that increased panic among traders, as evidenced by various posts on social media platforms.
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Crypto Patel’s reaction to the decline was that panic selling is not the solution. Technical analysis of The 2-week candlestick chart shows that Ethereum is now trading near an area where long-term investors should start thinking in terms of accumulation in stages, no emotional outings.
Patel placed his preferred ETH/USDT accumulation range between $1,550 and $1,000, noting that the bottom could be in this zone, but no one can accurately determine the exact bottom. The chart attached to its outlook, which was published on social media platform X, shows Ethereum trading above a green accumulation zone above the $1,000 support zone.
2-week Ethereum price chart. Source: @CryptoPatel on X
This range provides strong support, and any decline from current price levels will be limited to $1,000. However, a break below $1,000, if it occurs, will only last a few days as a final liquidation measure aimed at expelling weaker holders.
Long-term roadmap up to $16,000
The full price history of Ethereum, viewed through an Elliott Wave structure, shows the 2017 and 2021 highs as major cycle highs within two distinct cycles. The current price action is classified as a wave 4 correction in a five-pulse countdown that began after the 2021 high. Wave 4 is a correction to a major accumulation point before a project Wave 5 expansion phase until 2026 and 2027.
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Patel’s roadmap places $3,945 as a major resistance level, close to the area that capped several rallies following the 2021 high. A recovery above this price level would likely be the first confirmation that Ethereum has broken out of the accumulation structure and returned to a broader wave 5 bullish phase.
The projected wave 5 extension targets $16,000, timed to hit a cycle high between 2026 and 2027. Patel also said this ETH is above $10,000and perhaps even $20,000, are possible in the long term.
Featured image created with Dall.E, chart from Tradingview.com
