Ethereum Sinks to $1,459 — Can It Hold the $1,398 Lifeline or Slide Another 10% to $1,300?

• The current Ethereum territory under $1,500 presents an acute risk of penetration toward the $1,398 support area.
• The ETH/BTC ratio grows 3.7% whereas Ether drops against the US dollar which indicates Bitcoin gains strength along with shifting investor norms in the market.
• Market movements will depend on whether investors choose to maintain their $1,398 position or sell other cryptocurrency assets.

Ethereum (ETH),has faced significant downward pressure in the past 24 hours, slipping below the $1,500 mark. As of the latest data, ETH is trading at $1,459.38, reflecting a notable 7.0% decline within the day. The recent price movement has pushed ETH toward its nearest support level at $1,398.62 which causes market participants to watch for potential additional price drops.

Ethereum Nears Critical Support as Bearish Pressure Builds

The 24-hour price range shows Ethereum fluctuating between $1,398.62 and a resistance level of $1,586.85. The current price sits closer to the lower bound of this range, indicating bearish dominance in the short term.

Technical analysts are monitoring the $1,398 support level as a crucial pivot point; a break below it could trigger further selling pressure and possibly open the path toward the $1,300 psychological level.

ETH/BTC Ratio Climbs as Bitcoin Shows Relative Strength

In terms of Bitcoin (BTC) pairing, Ethereum stands at 0.01909 BTC, marking a 3.7% increase. The rise in the ETH/BTC ratio shows signs which could indicate Bitcoin price movements rather than indicating Ethereum independence.

This ratio helps traders to determine which asset possesses greater power compared to the other. An upward movement in this ratio while ETH values decrease against USD prompts a market-wide adjustment affecting Bitcoin to remain slightly stronger than other assets.

Technical Patterns and Market Sentiment

Technical indicators demonstrate that Ethereum prices show marked changes in investor attitudes after recent movements. A drop beneath the $1,500 mark forms a significant psychological marker since this price point has protected other price corrections in history.

Market stability for ETH could occur when buyers resurface at $1398. An increase in bearish volume indicates that the next major price target could exist below current market rates.

I continue to fish for entries in the stock market this week.

I’m mostly looking at ETFs but I think buying some NVDA makes sense here too.

Let’s see what today brings pic.twitter.com/ubveXBUxpX

— Jelle (@CryptoJelleNL) April 9, 2025

According to analyst CryptoJelleNL, he says that he is actively surveying the stock market this week while examining NVDA stock potential alongside current market trend modifications. Present market momentum shows a downward trend as spot prices create successively lower peaks during current trading behavior.

Looking Ahead: Uncertain Short-Term Trajectory

With Ethereum trading near key support, any breach could reinforce the bearish structure, prompting traders to reassess short-term strategies.Ethereum will suffer from selling pressure unless buying activity builds up at the support threshold.

Bulls would establish a more balanced perspective if they regain control of price levels higher than $1,500 while testing the $1,586 resistance point. The Ethereum price seems to exist in a delicate equilibrium which upcoming market sessions will determine its upcoming path.

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