Ether (ETH) might see one other sharp drop after dropping the assist degree 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 worth corrections, primarily based 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 under the important thing assist at $2,800.
Ether has not traded under this degree since Dec. 3, 2025, and dropping it suggests decrease ETH worth ranges could possibly 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 degree for bulls,” said Metacryptox, including:
“A failure to maintain right here confirms the bearish dominance, doubtlessly opening the doorways to the $2,500 mid-range.”
The $2,800 degree coincides with the horizontal line of a descending triangle, which was breached on Thursday.
The subsequent main assist is $2,500, which coincides with the 200-week simple moving average (SMA), as proven within the chart under.
Under that, the value might drop towards the measured goal of the triangle at $2,150, or a 20% decline from the present degree.
A bearish divergence from the relative strength index, which has dropped to 34 from 68 in early January, exhibits weakening worth momentum.
In the meantime, veteran dealer Peter Brandt stated the “burden of proof” was on the bulls after the ETH/USD pair broke under the decrease trendline of a symmetrical triangle.
Brandt’s chart factors to extra draw back threat, notably after the value dropped under 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 worth.
As Cointelegraph reported, the realm between $3,000 and $2,800 was a key assist zone for Ether, and losing it has put ETH vulnerable 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 usually 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 worth drawdowns, as proven within the chart under.
In the meantime, chart technicals present that the 111-day shifting common (MA) is at the moment buying and selling under the 200-day MA. Related crossovers triggered the beginning of deeper ETH worth drawdowns through the 2018 and 2022 bear markets, as proven within the chart under.
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