Ethereum’s crash under $1,500 over the weekend has pushed sentiment into considered one of its most fearful phases because the earlier bear market, however crypto analyst Crypto Patel believes the current selloff must be considered by way of an extended lens. The analyst’s roadmap locations ETH inside a broad accumulation vary, with the chart displaying that the identical motion as earlier Ethereum tops and bottoms remains to be enjoying out, and Ethereum is likely to be declining into an accumulation zone.
Ethereum Enters Panic Zone As Worth Revisits $1,500
Ethereum’s weekend drop has introduced ETH near $1,500, extending a painful correction that has already erased a big a part of the features since its August 2025 ATH. Current market knowledge from TradingView reveals ETH briefly touched $1,505 on Saturday, June 6, throughout a crypto market-wide selloff, a transfer that has elevated panic amongst merchants, as evidenced by varied posts on social media platforms.
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Crypto Patel’s response to the decline was that panic promoting isn’t the reply. Technical analysis of the 2-week candlestick timeframe chart reveals that Ethereum is now buying and selling near a zone the place long-term traders ought to begin thinking in terms of staged accumulation, not emotional exits.
Patel positioned his most well-liked ETH/USDT accumulation vary between $1,550 and $1,000, noting that the underside may very well be on this zone, however nobody can precisely name the precise backside. The chart hooked up to his outlook, which was posted on the social media platform X, reveals Ethereum buying and selling on high of a inexperienced accumulation zone above the $1,000 help space.
Ethereum 2-Week Price Chart. Source: @CryptoPatel On X
This vary is the robust help, and any draw back from the present worth ranges will likely be restricted to $1,000. Nonetheless, a break under $1,000, if it occurs, will solely final a couple of days as a last liquidation transfer to pressure weaker holders out.
Lengthy-Time period Roadmap To $16,000
Ethereum’s full worth historical past, considered by way of an Elliott Wave construction, reveals the 2017 and 2021 peaks as main cycle tops inside two separate cycles. The present worth motion is assessed as a Wave 4 correction in a five-impulse wave depend that began after the 2021 high. Wave 4 is a correction to a significant accumulation level before a projected Wave 5 enlargement part into 2026 and 2027.
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Patel’s roadmap locations $3,945 as a significant resistance stage, which is near the zone that capped a number of rallies after the 2021 peak. A breakout restoration above that worth stage would probably be the primary affirmation that Ethereum has moved out of the buildup construction and again into a bigger bullish Wave 5 part.
The projected Wave 5 extension targets $16,000, timed to a cycle high between 2026 and 2027. Patel additionally acknowledged that ETH above $10,000, and presumably even $20,000, are doable over the long run.
Featured picture created with Dall.E, chart from Tradingview.com
