Ethereum (ETH) is back on the knife’s edge, and Crypto market analyst Patel has suggested there may be no room for optimism if the next key level gives way. According to analyst, Ethereum price is hovering at a critical decision point below $2,000 after record several price drops. However, a breakdown below $1,800 could trigger a massive crash.
Ethereum Records Multiple Failing Bullish Structures
In an X post this Monday, Crypto Patel admitted that Ethereum had broken his heart twice, highlighting two failures bullish structures which have now reshaped its broader outlook. The first stab, as the analyst calls it, came when a Bull Flag Formation emerged and the price fell from the $3,700 region.
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On the chart, this breakdown marks the end of a multi-month rally that pushed the ETH price toward the $4,700-$4,900 area in late summer 2025 before falling below a descending trendline that capped each rally attempt.
The second dagger followed months later as ascending triangular structure collapsed to the critical $3,000 support zone. What looked like a tightening consolidation under horizontal resistance instead turned into a decisive breakout. The former support area around $3,100 to $3,500 has turned into resistance, marked by repeated rejection strands and lower highs pressing against the descending purple trendline on the chart.
According to Crypto Patel’s analysis, this failure led to a sharp drop below $2,000. As a result, Ethereum is now trading between $2,000 and $1,850, a range the analyst describes as the last buffer before a much larger pullback.
$1,800 Emerges as Critical Support for ETH
On the daily time frame, Crypto Patel’s chart shows that ETH recently printed around $1,982 after a strong liquidation which severed its previous structure. Although the cryptocurrency recovered slightly above $1,990, the previous decline had sent its price down by around $3,100 in early 2026 to levels below $2,000 in a matter of weeks. This left a visible area of imbalance between $2,400 and $2,600, which the analyst sees as potential. Fair value difference (FVG).
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For now, all the attention is on $1,800. Crypto Patel predicted that if Ethereum holds this critical support, a rebound relief towards $2,650 becomes the immediate upside target, likely filling some of this imbalance zone and retesting old breakdown zones.
On the other hand, if $1,800 fails, a broader market panic could become justified. According to Crypto Patel, a decisive break below this support could open the way to $1,300, marked by the weakest green demand block on the chart. He also called this region an important support and best accumulation zone, where buyers could move in aggressively.
Featured image from iStock, chart from Tradingview.com
