{"id":31327,"date":"2026-06-09T19:15:35","date_gmt":"2026-06-09T19:15:35","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-nears-crucial-support-as-analysts-warn-of-another-leg-down\/"},"modified":"2026-06-09T19:15:42","modified_gmt":"2026-06-09T19:15:42","slug":"ethereum-price-nears-crucial-support-as-analysts-warn-of-another-leg-down","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-nears-crucial-support-as-analysts-warn-of-another-leg-down\/","title":{"rendered":"Ethereum price nears crucial support as analysts warn of another leg down"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum price has fallen to around $1,630 after losing roughly 4% in the past 24 hours, while fresh technical signals and market-wide liquidations have kept traders focused on the risk of another move toward key support levels.<\/p>\n<div id=\"cn-block-summary-block_81f7904d681052639f0195daca2808e1\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price fell about 4% to near $1,630 as crypto liquidations reached $468 million, and Bitcoin dropped below $62,000.<\/li>\n<li>Analyst Ted Pillows warned that failure to reclaim $1,700 could trigger a move toward the $1,540 support zone.<\/li>\n<li>Technical indicators remain bearish, with ETH trading below Supertrend resistance near $1,850 and testing long-term support around $1,530.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Ethereum (ETH) changed hands near $1,628 on June 10, down about 4% over the previous 24 hours. The move coincided with Bitcoin\u2019s (BTC) 4.7% decline to roughly $61,050, which contributed to a 3.5% drop in total crypto market value to around $2.12 trillion. XRP (XRP) also slipped below $1.15, showing that the selloff extended beyond Bitcoin and Ethereum.<\/p>\n<p>Market participants linked the decline to weak risk appetite, security-related concerns, and a wave of leveraged liquidations.<\/p>\n<p>During the selloff, Bitcoin fell from roughly $64,100 to as low as $61,049, with analysts continuing to monitor whether the largest cryptocurrency can maintain support above $60,000. A sustained hold above that level could open the door for a recovery toward $63,400, while a breakdown may expose the $58,000 to $59,000 region.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Liquidations and fund flows increase market pressure<\/h2>\n<p>Data from the derivatives market showed that crypto liquidations reached approximately $468 million over the past day. The decline in Bitcoin alone erased about $130 million worth of positions as prices dropped sharply from the $64,100 area.<\/p>\n<p>Liquidation heatmap data cited by market observers showed roughly $331 million in long liquidations and $1.84 billion in short positions remaining vulnerable to a sudden reversal, highlighting the potential for continued volatility if prices change direction quickly.<\/p>\n<p>At the same time, exchange-traded fund activity delivered mixed signals. U.S. spot Bitcoin ETFs recorded net outflows of $91.37 million, while spot Ethereum ETFs attracted $82.37 million in inflows, according to SoSoValue flow <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-eth-spot\" target=\"_blank\" rel=\"nofollow\">data<\/a>.<\/p>\n<h2 class=\"wp-block-heading\">Technical indicators point to critical Ethereum support<\/h2>\n<p>Commenting on the current market, analyst Ted Pillows said Ethereum has struggled to reclaim the $1,700 level after its latest decline.<\/p>\n<p>According to a chart <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/TedPillows\/status\/2064276062150758695\" target=\"_blank\" rel=\"nofollow\">shared<\/a> by the analyst, the area acted as a major bottom in February 2026 but has since turned into resistance as sellers continue defending the zone.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is the zone where Ethereum bottomed in Feb 2026 and is now acting as a resistance. If ETH fails to reclaim this, a sweep of lows could happen next.\u201d<\/p>\n<\/blockquote>\n<p>Pillows identified the $1,540 area as the next key support level, warning that a failure to recover above $1,700 could expose Ethereum to another move lower.<\/p>\n<p>Additional technical indicators show bearish conditions remain in place. On the daily chart, Ethereum continues to trade below the Supertrend resistance near $1,850, a level that technical traders often monitor for signs of trend reversals.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Ethereum daily price chart \u2014 June 10 | Source: crypto.news<\/figcaption><\/figure>\n<p>While the Stochastic RSI has rebounded from oversold territory and may support a short-term relief bounce, the indicator has not yet confirmed a broader change in direction.<\/p>\n<p>Longer-term charts point to another important level. Weekly price action shows Ethereum testing support near $1,530, a zone that previously held during major pullbacks in 2023 and 2025.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"954\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2026\/06\/1781032535_703_Ethereum-price-nears-crucial-support-as-analysts-warn-of-another.webp.webp\" alt=\"Ethereum weekly price chart with key support levels.\" class=\"wp-image-14466071\"  ><figcaption class=\"wp-element-caption\">Ethereum weekly price chart with key support levels \u2014 June 10 | Source: crypto.news<\/figcaption><\/figure>\n<p>Momentum indicators remain weak, with the weekly MACD staying in bearish territory and the Chaikin Money Flow indicator around negative 0.22, signaling continued capital outflows.<\/p>\n<p>According to the technical setup visible on the weekly chart, a decisive break below $1,530 could expose the next major support level near $1,064.<\/p>\n<p>Any sustained recovery, however, would likely require Ethereum to reclaim resistance levels around $1,700 and eventually move back above the daily Supertrend near $1,850.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price has fallen to around $1,630 after losing roughly 4% in the past 24 hours, while fresh technical signals and market-wide liquidations have kept traders focused on the risk&hellip;<\/p>\n","protected":false},"author":1,"featured_media":29592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-31327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/31327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=31327"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/31327\/revisions"}],"predecessor-version":[{"id":31328,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/31327\/revisions\/31328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/29592"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=31327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=31327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=31327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}