Ethereum price drops to $1,730 as weekly death cross confirmed

Ethereum fell 3.06% to $1,729.7, snapping a weekly death cross—the 50‑week EMA slipping below the 200‑week EMA for the first time in years—while co‑founder Vitalik Buterin signaled a four‑year “Lean Ethereum” redesign that could reshape its scalability and security outlook【2】.

Weekly death cross and short‑term outlook

The death cross on the weekly chart marks a structural shift that historically signals months of bearish pressure. Ethereum’s price sits near the Fibonacci retracement level of $1,731.8, a key support zone identified from the recent downleg of $2,465.8 to $1,505.1【2】. Prediction‑market traders on Myriad now price a 72% chance that ETH will dip to $1,500 before testing $3,000, up from a roughly even split earlier in the year【2】. The ADX of 26.5 reinforces a confirmed downtrend, mirroring Bitcoin’s broader market weakness.

Long‑term upgrade signals and market perception

Buterin’s announcement of “Lean Ethereum”—the most substantial upgrade since The Merge—targets scalability, privacy, and quantum‑resistance over the next four years【1】. While the upgrade roadmap does not immediately affect price, it has nudged prediction markets, raising the probability of ETH reaching $10,000 by the end of 2026 to 1.4% (still low but higher than prior levels)【1】. The market appears to be weighing the upgrade’s potential against the current bearish technicals, creating a split between short‑term price pressure and long‑term upside expectations.

Tokenomics context

Ethereum’s circulating supply remains roughly 120 million ETH, with no major unlock events slated in the immediate term. The recent price decline represents a 30% drop over the past year, underscoring the broader market’s bearish phase【2】. No new large‑wallet inflows or outflows were reported in the sources, suggesting the price move is driven more by technical signals and upgrade speculation than on‑chain fund movements.

What to watch

• $1,500 support – a breach could trigger the 72% probability of ETH falling below this level, as indicated by prediction markets.
• Lean Ethereum rollout milestones – any concrete timeline or testnet release from the Ethereum Foundation could shift market sentiment.
• Weekly EMA crossover – a reversal of the death cross (50‑week EMA crossing back above the 200‑week EMA) would signal a potential trend change.

The juxtaposition of a bearish technical pattern with a multi‑year upgrade plan highlights a key tension: short‑term price pressure may persist, but the “Lean Ethereum” roadmap could reshape expectations for the token’s long‑term trajectory.