Key Insights:

1. ETH dropped 4% to $1,628 as over $1.1 billion in crypto liquidations swept the market in 24 hours.
2. Analyst Ted warns $1,700 has flipped to resistance, with $1,540 as the next downside target if it holds.
3. BitMine bought 75,000 ETH worth $123 million, pushing its total treasury past 5.4 million ETH despite falling prices.

Ethereum Price Drops 4%: Analyst Says $1,700 Is Now the Wall to Watch

Ethereum price is under heavy pressure on June 10, 2026. ETH dropped 4% in 24 hours to $1,628. A crypto analyst now warns that a failure at $1,700 could send ETH back toward recent lows.

ETH Drops 4% as Crypto Market Falls

Ethereum is trading around $1,628 after losing 4% in 24 hours. The broader crypto market fell 3.46%, pulling the total market cap down to $2.12 trillion. The selloff hit nearly every major token, leaving traders with few safe options.

Source: Coingecko

Bitcoin also fell sharply during the same period. It dropped from $64,100 to around $61,049. That move alone helped trigger over $1.1 billion in liquidations across the crypto market in a single day.

XRP also fell below $1.15 during the session. That confirmed the selling pressure was not limited to Bitcoin and Ethereum alone. Traders pointed to weak risk sentiment and heavy leveraged positions as the main drivers of the drop.

Why $1,700 Is the Level Everyone Is Watching

The $1,700 zone was a major bottom for Ethereum in February 2026. It has since flipped and is now acting as overhead resistance. Sellers are defending every rally attempt toward that level.

On the 4-hour chart, the Ethereum price was at $1,644 with an RSI of around 43.21. That reading shows momentum is still weak, even after a small bounce. The Chaikin Money Flow indicator sat near 0.05, pointing to mild capital inflow but low buying pressure overall.

Key Ethereum Price Levels

Level	Role
$1,700	Resistance — former Feb 2026 bottom
$1,650	Immediate support
$1,540	Next downside target if $1,700 fails
$1,362	Deep support with large liquidation cluster
$1,800	First recovery target on the upside
$2,000	Key level needed for confirmed recovery

Liquidation Data Adds More Downside Risk

There are more than 343,000 ETH hovering around liquidation levels (approx. $547 Million). This means there is danger of forced liquidation, should ETH price continue to fall from here. 

Specific risk clusters sit at two key price points. At $1,565, around 46,741 ETH face forced liquidation. At $1,362, as many as 137,908 ETH are at risk. A drop toward either level could set off a chain of sell orders and push prices even lower.

• $1,565 — 46,741 ETH at liquidation risk
• $1,362 — 137,908 ETH at liquidation risk
• Total at risk — over 343,000 ETH (~$547 million)

The daily liquidation map showed $331 million in long positions against $1.84 billion in short positions. That gap between longs and shorts points to the risk of sharp moves if the market suddenly reverses.

ETF Flows and Institutional Buying Tell a Different Story

On June 8, U.S. spot Bitcoin ETFs recorded net outflows of $91.37 million. At the same time, U.S. spot Ethereum ETFs pulled in net inflows of $82.37 million on the same day. The two moving in opposite directions shows that institutional interest in Ethereum price is still alive.

Bitcoin ETF outflows suggest some big players are stepping back from crypto broadly. Yet Ethereum ETF inflows show another group still sees value in ETH at current prices. That split makes the short-term Ethereum price picture harder to read clearly.

Then there is BitMine Immersion Technologies. The Tom Lee-chaired firm added another 75,000 ETH worth roughly $123 million in its latest purchase. 

That lifts its total treasury past 5.4 million ETH, making it one of the largest corporate holders of Ethereum in the world. The firm made this move while ETH was trading near multi-month lows, showing it views the current dip as a buying opportunity rather than a reason to exit.

Source: X

What Comes Next for the Ethereum Price

On the daily chart, the Ethereum price is still trading below the Supertrend resistance near $1,850. That is a level technical traders watch closely for signs that the trend is changing. Until ETH breaks and holds above it, the bearish trend stays in place.

Analyst Ted pointed to $1,540 as the next key support level below current prices. A failure to get back above $1,700 could open the door to a move toward that zone. From there, the next major floor sits at $1,362, where the largest liquidation cluster exists.

Source: X

On the upside, a recovery above $1,700 would be the first real step. That would open the path toward $1,800. A clear break above $1,800 would improve overall market confidence and put $2,000 back in view for the Ethereum price.

Ethereum’s next major upgrade, Glamsterdam, is targeted for the second half of 2026. It includes enshrined proposer-builder separation, a change that allows validators to process more data and scale the network. A successful rollout could serve as a catalyst, but the price needs to hold key support levels first.

FAQs

1. What is the Ethereum price today?

ETH is trading at around $1,618–$1,628 on June 10, 2026.

2. Why is the Ethereum price falling?

Weak risk sentiment, broad market selling, and over $1.1 billion in liquidations pushed ETH lower in 24 hours.

3. What is the key resistance level for Ethereum price right now?

$1,700 is the main resistance. It was the February 2026 bottom that has now flipped to a ceiling.

4. What happens if the Ethereum price drops below $1,540?

The next major floor sits at $1,362, where a large liquidation cluster of 137,908 ETH exists.

5. What is BitMine Immersion Technologies?

It is a Tom Lee-chaired firm that just bought 75,000 ETH worth $123 million, lifting its total holdings past 5.4 million ETH.

6. What is the Glamsterdam upgrade?

It is Ethereum’s next protocol upgrade planned for H2 2026, designed to improve network scalability.