Ethereum price has slipped below a major support zone, while liquidation data shows a much larger pool of short positions still hanging above the market. Together, the charts point to a tense setup where ETH could test lower support first, even as growing short exposure leaves room for a sharp rebound. Ethereum Breaks $2,000 Support as $1,850 to $1,900 Zone Becomes Key Ethereum dropped below a major support level as the ETH/USDT daily chart showed price breaking under the $2,000 zone. Analyst Ted Pillows said the next important support now sits between $1,850 and $1,900, where the market could look for stability. The chart highlights several resistance and support bands that previously shaped Ethereum’s structure over the past year. After trading above $2,400 earlier in the cycle, ETH gradually moved lower and eventually lost the $2,000 area, which had acted as a psychological and technical support zone. Once that level broke, price moved into a lower range where the next clear support appears near the $1,850 to $1,900 region. That zone stands out because it previously served as a consolidation area during earlier phases of the trend. The chart also shows Ethereum forming a short downward structure during the recent decline. As a result, the market now approaches the next support band from above while sellers remain active after the breakdown. Ted Pillows said Ethereum could retest the $1,850 to $1,900 area before attempting a rebound. If buyers respond in that range, the chart suggests ETH may try to move back toward the former resistance zone near $2,100. However, if the support fails, the lower demand zones highlighted on the chart would likely come into focus. Ethereum Liquidation Map Shows Heavy Short Exposure Meanwhile, Ethereum derivatives data shows a large imbalance between remaining long and short liquidation levels, according to analysis shared by CW8900. The chart indicates that roughly $1.66 billion in long liquidations remain, while about $3.95 billion in short positions still sit above the market. Ethereum Liquidation Map: Source: CW8900 on X The CoinAnk liquidation chart visualizes how leverage is distributed across several exchanges, including Binance, Bybit, OKX, Aster, Hyperliquid, and Lighter. The bars and cumulative curves show where positions could be forced to close if price moves into those zones. In this case, the remaining short exposure is noticeably larger than the long side. That imbalance matters because liquidation clusters often act as magnets during periods of volatility. When price moves toward areas with concentrated leverage, forced liquidations can accelerate the move. With a larger pool of short liquidations above the market, the chart suggests that upward pressure could trigger a cascade of short position closures. At the same time, the remaining long liquidation levels appear smaller by comparison. As a result, the immediate liquidation structure reflects a market where downside leverage has already been reduced, while short exposure still dominates above the current trading range. CW8900 said the remaining short positions could face liquidation if price moves upward into those clusters. In that scenario, forced buy orders from liquidated shorts could amplify volatility and push Ethereum toward higher liquidity zones.
