Ethereum Price Nears $1,750 Breakdown — Is a Deeper Crash Coming?

Ethereum just clocked its worst quarterly performance in recent memory — and it’s not showing signs of a turnaround.

As the second-largest cryptocurrency struggles to stay above the $1,750 level, investor confidence is unravelling. A nearly 45% plunge in Q1 has left ETH battered, underperforming both Bitcoin and the broader equity markets. Even more unsettling? A three-year low in exchange reserves hasn’t helped its price recover.

This isn’t just a price dip. It’s a shift in sentiment.

Ethereum’s Confidence Crisis Deepens

While Bitcoin holds steady near all-time highs, Ethereum has failed to find its footing. According to IntoTheBlock, ETH suffered a brutal 44.83% decline in Q1, compared to Bitcoin’s more moderate 14.67% drop.

That kind of divergence is rare. And it’s telling.

Instead of sparking buying interest, ETH’s decline seems to be pushing traders away — possibly toward Bitcoin, now viewed by many as the safer bet amid macro uncertainty and rising regulatory risks. Even the S&P 500 outpaced Ethereum’s performance, underlining how deep ETH’s troubles run.

Record-Low Exchange Reserves, But No Bullish Momentum

Usually, when tokens on exchanges drop, it suggests long-term conviction and a lower risk of selling pressure. In Ethereum’s case, however, it’s not playing out that way.

Exchange reserves for ETH have fallen to 18.4 million — a level not seen in over three years, per CryptoQuant data. Under normal circumstances, that would scream bullish potential. But instead, the price remains stuck in a low-volume consolidation, with no rally in sight.

The problem? It looks like investors aren’t moving their ETH off exchanges to hold long-term — they may be staking, waiting passively, or exiting altogether.

The result: no new demand to lift ETH off the floor.

Ethereum Price Stalls at $1,750 — The Line in the Sand

At press time, Ethereum is clinging to $1,788, just a hair above the psychologically important $1,750 mark. The price has been range-bound for over two weeks, and technicals aren’t offering much hope.

• The Relative Strength Index (RSI) is sitting at 36.7, dangerously close to oversold but not enough to attract aggressive buyers.
  
• The MACD histogram barely flickers green, indicating weak momentum.
  

Unless ETH can decisively reclaim the $1,850–$1,900 resistance zone with strong volume, the odds are tilted toward the downside. And if $1,750 breaks, analysts say we could quickly revisit $1,650 — or lower.

What Happens Next?

Ethereum is now caught in a psychological and technical no man’s land. The fundamentals — like declining exchange reserves — should be bullish, but they’re being overshadowed by fading sentiment and weaker demand.

Until that changes, ETH looks vulnerable to another leg down. And if $1,750 breaks, the slide could accelerate fast.

The crypto market has seen countless fakeouts and rebounds — but right now, Ethereum is on the defensive, and it’s not clear when that will change.

The message is clear for traders and investors alike: Watch $1,750 closely. The next big move could be triggered at any moment.