Ethereum crashed below $1,500 this weekend has encouraged sentiment one of the most frightening phases since the last bear market, thinks crypto analyst Crypto Patel the current sale must be viewed through a longer lens. The analyst’s roadmap places ETH within a wide accumulation range, with the chart showing that the same movement as previous Ethereum tops and bottoms is still playing out, and Ethereum may be entering an accumulation zone.
Ethereum enters the panic zone as the price reaches $1,500 again
Ethereum’s weekend drop has pushed ETH close to $1,500, marking a painful correction that has already wiped out much of the gains since the August 2025 ATH. Recent market data from TradingView shows that ETH briefly reached $1,505 on Saturday, June 6 during a crypto market-wide sell-off, a move that has increased panic among traders, as evidenced by several posts on social media platforms.
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Crypto Patel’s response to the decline was that panic selling is not the answer. Technical analysis of The two-week timeframe chart shows that Ethereum is now trading close to a zone where long-term investors should trade. start thinking in terms of staged accumulation, not of emotional exits.
Patel placed his preferred ETH/USDT accumulation range between $1,550 and $1,000, noting that the bottom could be in this zone, but no one can pinpoint the exact bottom. The chart accompanying his outlook, which was posted on social media platform X, shows Ethereum trading atop a green accumulation zone above the $1,000 support area.
Ethereum 2 week price chart. Source: @CryptoPatel on X
This range is the strong support, and any downside from the current price level will be limited to $1,000. However, a break below $1,000, if it occurs, will only last a few days as a final liquidation move to push out weaker holders.
Long-term roadmap to $16,000
Ethereum’s complete price history viewed through an Elliott Wave structure shows the 2017 and 2021 peaks as major cycle tops within two separate cycles. The current price action is classified as a Wave 4 correction in a five-pulse wave count that started after the 2021 top. Wave 4 is a correction at a key accumulation point projected before one Wave 5 expansion phase to 2026 and 2027.
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Patel’s roadmap places $3,945 as a key resistance level, which is close to the zone that capped several rallies after the 2021 peak. A breakout recovery above that price level would likely be the first confirmation that Ethereum has exited the accumulation structure and is back into a larger bullish Wave 5 phase.
The planned Wave 5 expansion targets $16,000, timed to a cycle top between 2026 and 2027. Patel also stated that ETH above $10,000and possibly even $20,000, are possible in the long run.
Featured image created with Dall.E, chart from Tradingview.com