Ethereum (ETH) Price: What’s Behind the Drop Below $1,800 – Key Support Levels to Watch

TLDR

• ETH dropped to around $1,714, its lowest price since April 2025
• The price is down 10% in a week and over 31% year-to-date
• $408 million in liquidations hit traders, mostly long positions ($343M)
• Ethereum ETFs saw $52 million in outflows on June 3, led by BlackRock
• Analyst Ali Charts warns the path to $1,600 and $1,400 is now open

Ethereum has dropped below the $1,800 level, sliding to a low of $1,714 on Thursday. That marks its lowest price since April 2025. At the time of writing, ETH is trading around $1,785, down roughly 10% over the past week after falling from a weekly high above $2,000.

The broader decline puts Ethereum down 25% over the past month and more than 31% since the start of 2026.

Trading volume over the last 24 hours sits at $31.2 billion, up about 15% from the day before.

ETF Outflows Add Pressure

Institutional money has been moving out of Ethereum products. On June 3, approximately $52 million left Ethereum ETFs, according to SosoValue data. Total outflows over the past month now stand at around $187 million.

BlackRock was the main driver of that single-day outflow, pulling out roughly $51 million on its own. No meaningful inflows have been recorded since early last month.

The drop also triggered a large liquidation event. Around $408 million in positions were forced closed in 24 hours, affecting more than 25,758 traders worldwide. Long traders took the hardest hit, losing approximately $343 million, while short traders saw about $65 million in losses.

Funding Rates Signal Crowded Long Bets

Derivatives data from CryptoQuant shows Ethereum’s funding rate on Binance has climbed to 0.0087, its highest level since early 2026. This indicates traders are opening leveraged long positions, betting on a price recovery even as the market stays weak.

On the technical side, ETH is trading below its 100-hour moving average. The RSI recently dipped below 15, hitting oversold territory, before a partial rebound. Key resistance sits at $1,750 and $1,800. If those levels hold as resistance, initial downside support is near $1,715, followed by $1,680 and $1,650.

The next major support below that sits at $1,600.

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