Ethereum Bears Target $1,850 as $2,033 Resistance Holds
Ethereum (ETH) is struggling to reverse May’s downtrend. A descending channel on the 4-hour chart suggests sellers remain in control.
Crypto analyst Burak Kesmeci (X) projects ETH could fall to the $1,822–$1,850 zone if ETH fails to break above $2,033 resistance (Fibonacci 0.5). The upper trendline in the descending channel acts as resistance, while the lower boundary is viewed as a bearish “floor.”
Bullish alternative: if ETH clears $2,033, upside toward $2,400 becomes possible. However, near-term demand looks weak.
On the demand side, spot Ethereum ETFs posted outflows above $241 million over the past week, marking the third consecutive week of significant net exits. CoinGecko data cited in the article shows ETH down nearly 15% over the last three weeks.
At the time of writing, ETH is around $2,023, with little change over the past 24 hours. Traders may therefore watch $2,033 for confirmation—either a breakdown toward $1,850 or a breakout attempt toward $2,400—while monitoring ETF flow momentum for follow-through.
Bearish
The article’s core thesis is bearish for Ethereum in the near term: technical structure (a descending channel on the 4-hour chart) plus a clear resistance level at $2,033. In past episodes, when ETH repeatedly fails to reclaim a key resistance while remaining inside a descending channel, traders often see momentum traders exit and price rolls toward the lower range-support zone.
The demand signal reinforces this setup. Spot Ethereum ETF outflows above $241M for the week and the fact it is the third consecutive week of net outflows suggests sustained sponsor/allocators are reducing exposure. Historically, ETF outflow streaks tend to precede weaker price follow-through because they remove a steady bid.
Short-term impact: higher probability of a move toward $1,822–$1,850 if $2,033 holds as resistance. Breakout traders should wait for confirmation above $2,033; otherwise, “resistance retests” often fail.
Long-term impact is less direct: the article does not discuss protocol upgrades or broader macro changes, so the dominant driver here is positioning/flows. If ETF outflows reverse and ETH breaks the channel, the bearish technical outlook could be invalidated quickly. Until then, the path of least resistance remains downward.