Ethereum price risks drop to $1,800 as ascending channel breaks
Ethereum price has broken down from an ascending parallel channel pattern on the daily chart — May 21 Momentum indicators are also deteriorating. The MACD histogram has flipped negative while the MACD line continues crossing below the signal line, confirming growing bearish momentum on the daily timeframe. Previous bearish crossovers on the same chart structure earlier this year preceded extended downside moves. The immediate support zone now sits near $2,080. Failure to hold this area could expose Ethereum to a rapid move toward the $1,800 region, which aligns with previous consolidation support formed during March and April. Some technical traders have also warned that Ethereum is now trading below several major exponential moving averages, strengthening the probability of further downside continuation. A confirmed daily close below the channel support could invalidate the entire April recovery structure. Derivatives positioning adds another layer of risk. CoinGlass liquidation data shows a dense concentration of leveraged long positions sitting between $2,040 and $2,000. If Ethereum breaks decisively below that zone, forced liquidations could amplify downside volatility. According to CoinGlass estimates, more than $1.70 billion worth of leveraged long positions could face liquidation pressure if ETH falls below approximately $2,044. Such liquidation cascades often trigger rapid flash crashes as








