Ethereum falls below $2,000 as liquidations surge

Ethereum (ETH) is down about 12.6% and has slipped below the $2,000 psychological level, with intraday lows near $1,964. In the past 24 hours, ETH trading volume jumped 24% to around $18B, suggesting sell pressure is intensifying. Derivatives are amplifying the move. Forced liquidations reportedly wiped out about $861M of long positions across crypto, including roughly $138M tied to Ethereum. The event is described as the second-largest daily liquidation in around three months, as stop-loss triggers add further downside. Traders are watching key ETH levels. Earlier resistance failures near $2,400/$2,300/$2,200/$2,100 have shifted focus to $2,050 and then $2,000. The latest technical map highlights resistance around $2,010–$2,050 and support at about $1,965; a break below $1,965 could expose $1,950, $1,920, and potentially $1,850. Weekly RSI is nearing 30, where rebounds have historically appeared, with analysts monitoring a possible retest of the cycle low near $1,750. Ali Charts also warns that if ETH’s weekly close falls under $1,850, selling could accelerate. Sentiment has turned more negative: the Fear & Greed Index fell to 32 (deep fear). On the macro side, US core PCE came in at 3.3%, in line with expectations, keeping rate-cut hopes in check. A potential counterweight comes from whale activity. An “OG” Ethereum wallet reportedly began accumulating again, buying over $8M of ETH around ~$2,050—though this may only limit the depth if $2,000 holds.