Ethereum drops below $2,000: Can ETH recover amid $1.64 billion in crypto liquidations?

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Mykhailo Ihnatenko

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Ethereum drops below $2,000: Can ETH recover amid $1.64 billion in crypto liquidations? — Liquidations deepen Ethereum’s selloff

Ethereum is back below $2,000 as rising oil prices, higher Treasury yields and another liquidation wave intensify pressure on risk assets. A recovery now depends on reclaiming $2,000, while failure to stabilise keeps the $1,800–1,850 zone in focus.

ETH price prediction

24H -3.72%

$1,822.7

48H -5.37%

$1,791.5

7D -16.7%

$1,576.94

1M -13.61%

$1,635.51

3M -34.32%

$1,243.43

6M -47.85%

$987.15

12M -33.82%

$1,252.84

Detailed

Current price: $1,893.08 -64.34 3.29%

Real-time Data 13:09

Daily range 1878

1936.49

Weekly range 1895.95

2246.00

Geopolitical instability in the Middle East continues to weigh on the crypto market. Brent crude has risen more than 7% from its November 10 low to $96.60 per barrel following attacks on Saudi energy infrastructure and disruptions to shipping through the Strait of Hormuz.

According to BLS data, consumer prices rose 0.4% month over month in October, while core CPI increased 0.3%. Against this backdrop, the 10-year U.S. Treasury yield climbed from 4.98% on November 10 to 5.1% on November 13, adding further pressure to risk assets.

The selloff was intensified by another wave of forced deleveraging. As per CoinGlass, $1.64 billion in crypto positions were liquidated over the past 24 hours, with $1.46 billion coming from longs.

Ethereum price needs to reclaim $2,000 to confirm stabilization

ETH fell below $2,000 and reached the $1,900 target. As mentioned in the previous analysis, losing this support risked triggering another liquidation wave, and that scenario has now materialized.

With macroeconomic and geopolitical risks still elevated, further downside remains possible. The nearest support is located in the $1,800–1,850 zone.

RSI (14) is already in oversold territory, creating conditions for a potential relief bounce. For that recovery to gain credibility, however, ETH needs to reclaim $2,000, hold above it and build a short period of consolidation.

A close above this resistance today would provide another strong signal that a local rebound is beginning to develop. The next target would then be the 200-day SMA near $2,150.

Market deleveraging could support Ethereum's next recovery

Despite the scale of the selloff, aggressive deleveraging could ultimately prove constructive for Ethereum over the medium term. Removing excessive speculative positioning may leave the market on a more stable footing for the next recovery.

If the macro backdrop improves or tensions in the Middle East begin to ease, ETH could recover a meaningful portion of its recent losses relatively quickly.

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