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Ethereum’s crash beneath $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 present selloff must be seen via an extended lens. The analyst’s roadmap locations ETH inside a broad accumulation vary, with the chart exhibiting that the identical motion as earlier Ethereum tops and bottoms continues to be enjoying out, and Ethereum may 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 positive aspects since its August 2025 ATH. Latest market knowledge from TradingView exhibits 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 shouldn’t be the reply. Technical evaluation of the 2-week candlestick timeframe chart exhibits that Ethereum is now buying and selling near a zone the place long-term buyers ought to start pondering in phrases of staged accumulation, not emotional exits.
Patel positioned his most popular 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, exhibits Ethereum buying and selling on prime of a inexperienced accumulation zone above the $1,000 assist space.
Ethereum 2-Week Worth Chart. Supply: @CryptoPatel On X
This vary is the sturdy assist, and any draw back from the present worth ranges shall be restricted to $1,000. Nonetheless, a break beneath $1,000, if it occurs, will solely final a couple of days as a remaining liquidation transfer to drive weaker holders out.
Lengthy-Time period Roadmap To $16,000
Ethereum’s full worth historical past, seen via an Elliott Wave construction, exhibits 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 prime. Wave 4 is a correction to a significant accumulation level earlier than a projected Wave 5 enlargement section into 2026 and 2027.
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Patel’s roadmap locations $3,945 as a significant resistance degree, which is near the zone that capped a number of rallies after the 2021 peak. A breakout restoration above that worth degree would possible be the primary affirmation that Ethereum has moved out of the buildup construction and again into a bigger bullish Wave 5 section.
The projected Wave 5 extension targets $16,000, timed to a cycle prime between 2026 and 2027. Patel additionally said that ETH above $10,000, and probably even $20,000, are potential over the long run.
Featured picture created with Dall.E, chart from Tradingview.com
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