**[10x Research: ETH Support Level in Jeopardy, Breaking Below $1,580 Could Lead to a 40%-60% Drop]** Gold Finance reports that 10x Research published an analysis indicating that ETH is currently testing the critical support range of $1,569 to $1,581. If this range is breached, the price may further decline to the $1,100 to $1,200 range. Should this trend occur, Ethereum's price would drop to levels close to those seen during the November 2022 FTX bankruptcy event. At that time, the FTX bankruptcy claim price was approximately $1,258. If ETH falls back to this range, it would become a significant pressure point reflecting bearish market sentiment. However, the $1,600 level still holds more historical support significance and theoretically offers stronger support compared to the $1,100 to $1,200 range. Yet, the lower $1,100 to $1,200 range is already approaching the psychological threshold of $1,000. If the support zone below $1,600 is lost, Ethereum could face a further 40%-60% downside risk.