Ethereum Price Falls Below Gareth Soloway's $1,850 Add Zone After His $1,952 Long

Three Things to Know

• Ether sank through the zone where strategist Gareth Soloway planned to add to his long position.
• Momentum gauges look deeply stretched, yet sellers still control the daily trend.
• Traders now watch whether Ether can reclaim resistance near $2,170 before the selling resumes.

Ether extended a punishing week of losses and fell below the buy zone that Verified Investing strategist Gareth Soloway had marked for adding to his long trade. His position now sits underwater.

The drop matters because altcoins have bled faster than bitcoin, and Ether shows few signs of a turn. Oversold readings hint at a relief bounce. Traders want to know if buyers can hold the line or if sellers drag Ether lower first.

A Brutal Week Pushes Ether Through a Strategist's Buy Zone

Crypto markets took a heavy hit this week, and altcoins bled harder than bitcoin. Bitcoin fell to near $65,400 on Nov 14. That left it down roughly 14% for the week. Ether dropped to near $1,826 that day, a weekly loss of about 18%.

Other large tokens fared worse. XRP slid back below $1, to near $0.96. Solana lost roughly 9% to around $72.70.

The slide caught Gareth Soloway, chief market strategist at Verified Investing. He went long Ether at an average near $1,952, using about a quarter of a full position. He planned to add near $1,850. Ether now trades below both levels. It also slipped back under the trend line it had recently broken above.

Soloway had warned that a bitcoin break below $75,500 would open a path to $66,000 to $67,000. Bitcoin broke through that zone. He then bought small amounts of bitcoin and Solana in that zone and said he sees a short-term bottom.

Ether Trades Far Beneath Averages That Now Act as a Ceiling

Ethereum (ETH) daily price with the nearest support (green) and resistance (red). Source: TradingView

Ether traded near $1,790 at last check, below where it closed out that brutal session. The coin has lost about 20% over seven days. That puts Soloway's position deeper underwater.

The moving averages tell a clear story. A moving average tracks the mean closing price over a set number of days and helps show the trend. Ether's 50-day average sits near $2,280. The 200-day average is close by at about $2,290. The two lines have nearly merged into a single band overhead.

That band now works as a ceiling. When price sits this far below both averages, rallies tend to stall as they approach them. Ether would need to climb more than 25% just to test it.

The damage did not come in one day. Ether is down about 27% over 30 days in a steady grind lower. Sellers have pressed the price down week after week. That pattern points to a durable downtrend, which is harder to reverse than a sudden crash.

Ether rose about 1% in the past 24 hours, a quiet move after the plunge. That suggests sellers have paused for now. Buyers have yet to show they can push the price higher with any force.

Oversold Readings Have Not Stopped the Selling

Ether's daily RSI sits near 22. RSI, a 0 to 100 gauge of momentum, flags a coin as oversold below 30. A reading this low means sellers have pushed the price down fast and may be running short of fuel.

Other signals show no turn yet. The MACD, a tool that compares short and longer price trends, remains below its signal line. In plain terms, momentum keeps pointing down.

Trend strength adds a warning. The indicators show a real trend in place, and sellers lead it. In strong downtrends, oversold readings can linger for days or weeks while the price keeps sliding. Buyers would need a clear upturn in momentum before the low RSI means much for Soloway's position.

$2,170 Stands Between Ether and Any Real Recovery

On the daily chart, that resistance marks the first level a rebound must clear. A daily close above it would put the averages band in play as the next target.

Below the price, the picture looks thinner. The nearest support sits near $1,200, and the data shows no other level beneath it. That leaves a wide air pocket. If selling resumes, Ether has little on the chart to slow a fall until that floor.

Soloway's entries add a test of their own. Both his average long and his planned add sit between the current price and resistance. A bounce that pushes through those levels without stalling would show real buying strength. A rally that fades there would suggest sellers still control the tape.

What Flips the Next Three Days

Three days should show whether the oversold reading sparks a bounce or the downtrend runs on.

• Bullish: Bargain hunters lift Ether back above Soloway's add zone and then his average entry. That would put the nearest resistance in reach as the target. A fresh low beneath the current price area would cancel this view.
• Bearish: Ether fails to retake the add zone, and sellers stay in charge. That leaves the wide gap toward the lone support level open. A daily close above resistance would cancel this view.

Sellers Still Hold the Trend as a Bounce Builds

Ether looks stretched after its slide, yet no reversal has shown up on the chart.

Bitcoin remains the bigger risk. Soloway said a new low under the prior cycle low would mean no bottom has formed. If bitcoin makes that move, Ether would likely be dragged down through any bounce it manages first.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.