Ether (ETH) has plummeted by 30% in the past week, dropping from $2,800 to $1,900. This decline was accompanied by a $15 billion drop in Ether’s open interest in futures trading. Analysts are now looking at technical indicators to predict ETH’s future price movements, with focus on the $1,000-$1,400 range. The ETH/USD pair fell below $2,000, hitting a nine-month low of $1,740 before rebounding to $1,900. Bitcoin (BTC) dropped 21% to $66,340, XRP fell 21% to $1.37, and Solana (SOL) lost 29% over the week. The global crypto market cap is down 20% to $2.23 trillion.ETH’s recent slump led to $400 million in long liquidations, signaling intense selling pressure. US-based spot Ether ETFs saw $1.1 billion in outflows in two weeks, contributing to the downward pressure on ETH price. With increased selling from major holders like Trend Research and Vitalik Buterin, the outlook for ETH remains bearish, potentially pushing the price lower.Ether has lost key support levels, including the 200-week SMA and psychological levels at $3,000 and $2,000. If history repeats, ETH could drop further to $1,400, aligning with an inverse V-shaped pattern target. Other indicators point to potential support levels at $1,500, $1,300, and $1,000 before a possible bottom at $1,200. Glassnode’s UTXO realized price distribution shows little support volume below $1,900, indicating a possible further drop in price.

Read more at CoinTelegraph: Ether’s Technicals and Onchain Data Signals ETH Could Slip below $1.4K