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Ethereum drops 12.6%, breaks $2,000 support amid high forced liquidations and fear in market

Technical Signals
29 May 2026
Blockonomi
View Source
Bearish
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Ethereum has fallen 12.6% over the past month, underperforming the top 5 cryptocurrencies by market cap. The price broke below the key $2,000 support level, hitting an intraday low of $1,964, while forced liquidations of long positions reached $138 million in 24 hours, signaling strong selling pressure. Market sentiment is fearful, with the Fear and Greed Index at 32. Technical analysts warn that a weekly close below $1,850 could lead to further declines toward $1,560 or even $1,070, with resistance near $2,010 limiting any short-term recovery. U.S. inflation data suggests no near-term rate cuts, reducing bullish catalysts for Ethereum.

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