Ether (ETH) might see one other sharp drop after shedding the assist stage at $2,800, with technical charts and onchain knowledge suggesting the downtrend will proceed.
Key takeaways:
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Ether’s descending and symmetrical triangle setups converge at $2,100.
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Ether is at ranges which have beforehand preceded deeper value corrections, based mostly on onchain knowledge.
Ether’s chart technicals converge at $2,100
The ETH/USD pair has dropped by over 10% within the final three days, dipping beneath the important thing assist at $2,800.
Ether has not traded beneath this stage since Dec. 3, 2025, and shedding it suggests decrease ETH value ranges might be within the playing cards.
Associated: Crypto market weakness persists, but Ethereum metrics hint at rally to $3.3K
ETH was buying and selling round $2,700 on the time of writing, a “do or die stage for bulls,” said Metacryptox, including:
“A failure to carry right here confirms the bearish dominance, doubtlessly opening the doorways to the $2,500 mid-range.”
The $2,800 stage coincides with the horizontal line of a descending triangle, which was breached on Thursday.
The following main assist is $2,500, which coincides with the 200-week simple moving average (SMA), as proven within the chart beneath.
Beneath that, the worth might drop towards the measured goal of the triangle at $2,150, or a 20% decline from the present stage.
A bearish divergence from the relative strength index, which has dropped to 34 from 68 in early January, reveals weakening value momentum.
In the meantime, veteran dealer Peter Brandt mentioned the “burden of proof” was on the bulls after the ETH/USD pair broke beneath the decrease trendline of a symmetrical triangle.
Brandt’s chart factors to extra draw back threat, significantly after the worth dropped beneath the $2,800 mark.
The measured goal of the sample, calculated by including the width of the triangle to the breakout level, is $2,100, representing a 22% decline from the present value.
As Cointelegraph reported, the world between $3,000 and $2,800 was a key assist zone for Ether, and losing it has put ETH susceptible to additional losses.
Ethereum mirrors previous pre-bear market setups
Onchain knowledge additionally reveals similarities between the present ETH market setup and former bear cycles.
Ether’s internet unrealized revenue/loss (NUPL) indicator has transitioned from “nervousness (yellow)” to the “concern zone (orange),” a place that’s sometimes related to the beginning of bear markets.
The NUPL measures the distinction between the relative unrealized revenue and the relative unrealized lack of ETH holders.
In earlier market cycles, the transition to concern has accompanied prolonged value drawdowns, as proven within the chart beneath.
In the meantime, chart technicals present that the 111-day shifting common (MA) is at the moment buying and selling beneath the 200-day MA. Related crossovers triggered the beginning of deeper ETH value drawdowns throughout the 2018 and 2022 bear markets, as proven within the chart beneath.
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