Ethereum price sinks as inverse Adam & Eve targets $1,500
Ethereum price stays under heavy selling pressure for a fourth day, hitting a new yearly low near $1,680 after a technical breakdown below $1,825. Liquidations and ETF outflows intensified the move, pushing Ethereum price toward the next major support at $1,600, with $1,500 now the key downside test.
On the flow side, spot Ethereum ETFs logged $19.3M in inflows after 17 straight days of outflows, but earlier in the week ETH saw steep redemptions, including over $519M outflows on June 2.
Derivatives stress was severe: CoinGlass data cited more than $1.2B in crypto liquidations in a single day, with forced selling adding to ETH’s downside. Broader risk sentiment also deteriorated as geopolitical headlines and higher-for-longer rate expectations supported a move away from risk assets.
Technically, the daily chart shows an inverse Adam & Eve pattern breaking below the neckline support around $1,975. The measured move projects a decline toward roughly $1,412, placing the $1,500 zone inside the next major leg down. ETH also slipped below its 200-day EMA and a local ascending support, while momentum remains weak (MACD negative; RSI around the low-teen/very oversold zone).
Analysts highlight that a failure to hold $1,600 could accelerate liquidation-driven weakness. Bearish structure only starts to weaken if Ethereum price reclaims $1,825 and then closes above about $1,975.
Bearish
The article is bearish for trading because Ethereum price broke a widely watched support zone ($1,825) and is now approaching the next liquidity-heavy area ($1,600 and then $1,500). The combination of (1) large liquidation volumes, (2) ETF flow uncertainty (a modest rebound in inflows after a long outflow streak, but with heavy prior redemptions), and (3) a confirmed inverse Adam & Eve breakdown on the daily chart increases the odds of another downside leg.
Historically, when ETH loses a technical level like the 200-day EMA/major support while derivatives positioning is crowded, downside often extends via “forced selling” dynamics—similar to prior liquidation waves where price gaps through supports and only later stabilizes once liquidation heatmaps cool off. The very oversold RSI readings can fuel short-lived oversold bounces, but oversold conditions alone have not yet confirmed a reversal.
Short term: traders should expect volatility around $1,600; failing to hold it raises the probability of a sharp move into the $1,500/$1,412 measured-move zone, especially if ETF inflows do not continue.
Long term: if Ethereum price can reclaim $1,825 and then close above ~$1,975, the bearish pattern damage may be partially undone. Until then, the market’s technical structure and derivative-driven selling pressure remain the dominant forces.