Ethereum trades below $1,740 support, analysts warn risk of further decline to $1,460

Ethereum continues to exhibit weakness in the short term, hovering near a multi-year support line. Recent analysis points to a critical threshold around $1,700, emphasizing that failure to defend this level could increase the risk of further declines.Price struggles below $1,740 resistanceMulti-year support line comes back into focus$4,854 remains a long-term target Price struggles below $1,740 resistanceOn the 12-hour chart, ETH is trading near $1,670, firmly below the $1,740 horizontal resistance. The latest recovery attempt was capped by a falling trendline, underscoring persistent selling pressure in the market.Market analyst CRYPTOWZRD highlighted that for bullish momentum to return to Ethereum, the price must first reclaim the $1,740 zone and then break above the descending trendline. If ETH manages to confirm this breakout, a recovery toward the $2,200 level could come into play.The analysis underlines $1,740 as the main short-term threshold. Surpassing this area could reignite buying interest, while remaining below it may lead the downtrend to persist.However, if Ethereum continues to trade below this critical resistance, bears are expected to retain control. In this scenario, a dip below the recent lows may pave the way for a retreat toward $1,460, marking a significant correction from current levels. Multi-year support line comes back into focusThe daily chart shows that Ethereum has once again returned to an ascending support line connecting key market lows in 2022, 2025*, and the current cycle. As the largest blockchain for smart contracts and decentralized applications, Ethereum’s technical position often drives overall market sentiment.Within this technical framework, the $1,700 region emerges as decisive not only for the short term but also across a broader timeframe. Historically, reactions from this support line have sometimes propelled the Ethereum price toward record highs.$4,854 remains a long-term targetShould buyers defend the current support level, analysts say a long-term recovery could resume for Ethereum, putting the resistance zone near $4,854 back on the agenda. However, this target is seen as part of a broader bullish scenario, rather than an immediate expectation.The relative strength index (RSI) currently stands at 43, indicating a lack of momentum but suggesting the market hasn’t entered oversold territory yet. For a more robust rebound, Ethereum needs to stay above the support line and post higher highs beyond nearby resistances.Conversely, if daily closes drop below the rising support line, the existing bullish structure may weaken. Such a breakdown could increase the odds of deeper losses, keeping the $1,700 area as the main decision zone for analysts monitoring market direction.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.