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Market watcher Ali Martinez shares his expectations for Ethereum (ETH) amid its sustained downtrend since hitting the $2,140 price level in April.&nbsp; 
Ethereum’s (ETH) multi-week downturn has become a concern for investors. Amid the market-wide bearish trend, the second-largest crypto asset by market cap has continued to break key support levels over the past weeks. Accordingly, several addresses holding ETH have entered into losses. 
<h2 id="span-data-preserver-spaces-true-key-support-levels-span">Key Support Levels </h2>
Ali Martinez called attention to these developments, citing data from IntoTheBlock. ETH has continued to drop, changing hands at $1,823 as of press time. Martinez shared his expectations for ETH should the token downtrend be prolonged.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> <a href="https://t.co/9TP6xi3R5x">pic.twitter.com/9TP6xi3R5x</a> 
 <a href="https://twitter.com/ali_charts/status/1691788043881971919?ref_src=twsrc%5Etfw">August 16, 2023</a> 
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
According to the prominent market watcher, ETH could head toward the $1,600 price territory if $1,800 fails to hold firm.&nbsp; 
The analyst called $1,600 the “next significant support level” for ETH, citing historical accumulation activities. The IntoTheBlock data shared by Martinez reveals that 2.48 million addresses bought a cumulative 3.8 million ETH around the $1,600 level.&nbsp; 
It remains to be seen whether ETH will plummet below $1,800 to the $1,600 level, as speculated by the analyst. However, ETH’s daily transaction volume has been low&nbsp; <a class="editor-rtfLink" href="https://thecryptobasic.com/2023/08/16/xrp-spikes-above-ethereum-in-daily-transactions/" target="_blank" rel="noopener">compared </a>...
<a href="https://thecryptobasic.com/2023/08/16/here-are-key-ethereum-support-levels-to-note-if-eth-loses-1800/">Read more</a>

Here Are Key Ethereum Support Levels to Note If ETH Loses $1,800

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