Ethereum (ETH) Hovers at $1,700: Critical Support and Resistance Levels Explained

TLDR

Table of Contents

Ethereum currently trades around $1,731, mirroring price levels from March 2021
Technical analyst Ali Martinez identifies $1,060 as critical downside support if current levels fail
Bulls eye $2,850 and $4,630 targets, but must first overcome $1,960 resistance
June 2026 saw significant ETH withdrawals from Binance exchange
Corporate accumulator Bitmine controls 5.54 million ETH, representing 4.58% of total circulation

The world’s second-largest cryptocurrency has delivered essentially flat returns over a five-year period. This stagnation now defines the narrative as market participants scrutinize the $1,700 support zone.

At press time, ETH changed hands at $1,731, representing a modest 0.48% gain across the previous 24-hour period. The day’s trading bandwidth spanned from $1,708 on the low end to $1,742 at the peak. Remarkably, despite experiencing multiple parabolic rallies and crushing bear cycles, the asset trades virtually unchanged from its March 2021 valuation.

Market analyst Ali Martinez highlighted this sobering reality: “A $10,000 investment made five years ago would still be worth approximately $10,000 today.” Martinez emphasized that through “severe volatility, explosive bull runs, and deep bear-market liquidations, ETH has posted zero net gains from that baseline.”

Ethereum $ETH is trading at roughly the same price it was in March 2021.
This means a $10,000 investment made five years ago would still be worth approximately $10,000 today.
Despite five years of severe volatility, explosive bull runs, and deep bear-market liquidations, ETH… pic.twitter.com/JGLoIU4hJd
— Ali Charts (@alicharts) June 20, 2026

This sobering backdrop influences current trading strategies. Market participants are prioritizing technical levels over fundamental narratives.

Market technician Daan Crypto highlighted $1,750 as a decisive battleground for near-term momentum. In commentary on $ETH via X, he stated: “That $1750 level is pivotal for me to determine the short term strength. If price can’t manage to retake it, then that’d be a sign of weakness.” His analysis pointed out that ETH struggled to maintain elevation after briefly surpassing February peaks, though another attempt appeared underway.

$ETH Failed to hold the retest after breaking back above the February highs.
But it is now trying to break above again.
That $1750 level is pivotal for me to determine the short term strength. If price can't manage to retake it, then that'd be a sign of weakness. pic.twitter.com/l43acKTj3P
— Daan Crypto Trades (@DaanCrypto) June 21, 2026

Critical Price Zones Under Observation

Technical charts reveal ETH positioned beneath a conspicuous gap around $1,709.50. Should price retrace to fill this vacancy while maintaining support, bulls could establish a more solid foundation. Conversely, a decisive breakdown below $1,700 would bring $1,650 into immediate consideration.

Looking upward, $1,960 represents the primary resistance barrier on monthly timeframes. ETH has consistently failed to secure monthly closes above this threshold. Successfully clearing $1,960 would unlock progression toward $2,850. Beyond that milestone, $3,740 and $4,630 emerge as subsequent objectives. According to analyst Trader Symba’s extended forecast, a $10,000 price target becomes viable following a confirmed breakout above $4,862.

The MACD histogram registers positive at 21.25, with the MACD line positioned above its signal line. That said, both components remain beneath the zero threshold. The RSI reads 40.45, exceeding its moving average yet staying below the neutral 50 midpoint. Neither momentum indicator provides definitive confirmation of trend reversal.

Corporate Accumulation and Platform Withdrawals

Blockchain analytics reveal substantial ETH withdrawals from Binance during June 2026 as Ethereum hovered around $1,710. CryptoQuant specialist Rei Researcher documented this activity, observing considerable token migration away from the platform. Declining exchange balances typically suggest reduced immediate sell-side pressure.

Meanwhile, corporate accumulator Bitmine has added more than 1.4 million ETH to its treasury since December 2025. The firm’s aggregate holdings now total 5.54 million ETH, valued at approximately $9.40 billion. This stockpile accounts for 4.58% of circulating tokens, placing Bitmine at 91.7% completion of its publicly stated objective to control 5% of supply.

Ethereum maintains a market capitalization exceeding $200 billion, securing its position among the leading digital assets globally.