March 3, 2026 – Ether (ETH) stalled its rally just above $2,000 on Monday, encountering stiff resistance, while technical and onchain indicators suggest further downside if the cryptocurrency breaks below critical support at $1,800.

Key Support Levels

Data from cost-basis distribution shows that around 1.23 million ETH were acquired in the last 30 days at an average price of $1,890, creating a strong support zone between $1,800 and $1,900. CoinGlass reports that short liquidations totaling over $120 million occurred over the past two days, clearing overhead leverage, while cumulative long liquidation exposure above $1,800 sits at $624 million, forming a liquidity pocket just below the spot price.

CryptoQuant analyst Maartunn also notes 67,000 ETH (~$130 million) positioned just below the current spot price, emphasizing the importance of this support zone.

Technical Outlook

From a charting perspective, Ether is forming a symmetrical triangle pattern on the daily chart. If bearish momentum persists, ETH could drop below the lower triangle boundary near $1,850, testing February lows at $1,750. The measured target of the triangle suggests a potential decline toward $1,400, roughly 28% below current levels.

Additionally, Ether’s MVRV extreme deviation bands indicate that the cryptocurrency could fall further before unrealized investor profits reach extreme levels, suggesting a possible bottom near $1,650, consistent with historical bear-market patterns in 2018 and 2022.