Ethereum price crashed below $1,500 over the weekend I pushed the feelings into One of the scariest phases since the previous bear market, but cryptocurrency analyst Crypto Patel believes Current sales It should be viewed through a longer lens. The analyst’s roadmap places ETH within a broad accumulation zone, as the chart shows that the same movement as Ethereum’s previous highs and lows is still ongoing, and Ethereum may fall into an accumulation zone.
Ethereum enters panic zone as price returns to $1,500 level
Ethereum’s weekend decline took ETH to nearly $1,500, extending a painful correction that has already erased a significant portion of the gains since ATH in August 2025. Recent market data from TradingView shows that ETH briefly touched the $1,505 level on Saturday, June 6 during a Cryptocurrency sales at the market level, This is a step that increased the state of panic among traders, as evidenced by various posts on social media platforms.
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Crypto Patel’s reaction to the decline was that panic selling is not the answer. Technical analysis for The two-week candlestick time frame chart shows that Ethereum is now trading near the area where long-term investors should trade. Start thinking in terms Interim accumulation, not emotional exits.
Patel placed his preferred ETH/USDT accumulation range between $1,550 and $1,000, noting that the bottom might be in this area, but no one can pinpoint the exact bottom. The chart accompanying his forecast, which was posted on social media platform X, shows Ethereum trading above a green accumulation zone above the $1,000 support zone.
Ethereum 2-week price chart. Source: @CryptoPatel on X
This range represents strong support, and any decline from current price levels will be limited to $1,000. However, a break below the $1,000 level, if it happens, will only last for a few days as a final liquidation step to force holders of weaker stocks out.
Long term roadmap up to $16,000
The complete Ethereum price history, viewed through an Elliott wave structure, shows the highs of 2017 and 2021 as major cycle highs over two separate cycles. The current price action is classified as a corrective wave 4 in a number of five-wave impulses that started after the 2021 high. Wave 4 is a correction of a major accumulation point. Before expected Wave 5 expansion phase in 2026 and 2027.
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Patel’s roadmap places $3,945 as a key resistance level, which is close to the area that capped many of the rallies following the peak of 2021. A breakout recovery above this price level will likely be the first confirmation that Ethereum has exited the accumulation structure and is back into a larger bullish phase of wave 5.
The expected wave 5 extension targets $16,000, with a timing of reaching the top of the cycle between 2026 and 2027. Patel was also mentioned That ETH is above $10,000Perhaps even $20,000 is possible in the long term.
Featured image created with Dall.E, chart from Tradingview.com
