Sub-$2K ETH Price Levels Emerge as Key Long-Term Demand Zones

Ether struggled to hold prices above $2,000 on Tuesday, and its 31% decline in 2026 fits a familiar price fractal from previous bull markets. On the weekly chart, the drop toward the $1,730 region resembles a "first low" rather than a definitive market floor, suggesting price may revisit lower levels before a durable base forms.

Onchain cost-basis data clusters between $1,300 and $2,000, reinforcing this range as a potential demand zone. UTXO realized price distribution shows large supply clusters above current prices—$2,822 accounts for 5.86% of supply and $3,119 holds 6.15%—creating heavy overhead resistance, while notable clusters at $1,881 (1.58 million ETH) and $1,237 point to possible support if prices retrace.

Structurally, $1,237 stands out as a potential cycle floor, with intermediate support near $1,584 and stronger acceptance around $1,881.

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