Ethereum’s crash beneath $1,500 over the weekend has pushed sentiment into one in all its most fearful phases because the earlier bear market, however crypto analyst Crypto Patel believes the present selloff needs to be seen by means of 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 remains to be enjoying out, and Ethereum is perhaps declining into an accumulation zone.
Ethereum Enters Panic Zone As Value 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. Current market information 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 just isn’t the reply. Technical evaluation 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 start considering in phrases 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 could possibly 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 assist space.
Ethereum 2-Week Value Chart. Supply: @CryptoPatel On X
This vary is the robust assist, and any draw back from the present worth ranges might be restricted to $1,000. Nevertheless, a break beneath $1,000, if it occurs, will solely final a number of days as a ultimate liquidation transfer to power weaker holders out.
Lengthy-Time period Roadmap To $16,000
Ethereum’s full worth historical past, seen by means of an Elliott Wave construction, reveals the 2017 and 2021 peaks as main cycle tops inside two separate cycles. The present worth motion is classed 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 earlier than a projected Wave 5 growth 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 possible 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 said that ETH above $10,000, and probably even $20,000, are attainable over the long run.
Featured picture created with Dall.E, chart from Tradingview.com
