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The current weekly close will determine whether Ethereum (ETH) falls toward the $1,000 mark, according to a technical analysis by analyst Ali Martinez. According to his data, a weekly candle close below the key $1,850 support will trigger an acceleration of selling.
If this level is broken, the first target of the downward move will be the intermediate support near $1,560, while the final point of the decline within the multiyear channel will be the lower boundary of the range near $1,070.
Ethereum ETF outflows meet an "Amazon 2001" analogy
The decline in the price of the main altcoin is taking place amid the continued flight of institutional capital. U.S. spot Ethereum ETFs recorded a net outflow of $121 million, marking the thirteenth consecutive day of withdrawals and signaling sustained bearish sentiment among Wall Street investors.
Additional pressure on the market came from the actions of Bankless co-founder David Hoffman, who fully liquidated his ETH position on May 26, 2026, after nine years of holding. Hoffman said the token had already reached fair value and had lost its upside potential, as the Ethereum network operates "altruistically," giving all economic benefit to Layer-2 projects instead of accruing value to Layer-1 holders.
Standard Chartered analysts, however, take the opposite view, comparing the current ETH drawdown to the collapse of Amazon shares in 2001, when the stock price fell from $113 to $6 despite growth in the company's internal business metrics. The bank emphasizes that Ethereum's fundamental network metrics remain strong: it accounts for 50–65% of the stablecoin and tokenized asset (RWA) markets.
Expecting multifold growth in these sectors by 2028, Standard Chartered maintains its ETH forecast at $4,000 by the end of 2026 and $40,000 by 2030. Whether this optimistic long-term scenario begins to play out or the market heads toward $1,000 will be decided by Ethereum's ability to hold the $1,850 level in the coming days.
Dan Burgin
