Ethereum loses $2.8K support as charts point to possible 22% downside

1 hour ago

Ether (ETH) could spot different crisp driblet aft losing the enactment level astatine $2,800, with method charts and onchain information suggesting the downtrend volition continue.

Key takeaways:

Ether’s descending and symmetrical triangle setups converge astatine $2,100.
Ether is astatine levels that person antecedently preceded deeper terms corrections, based connected onchain data.

Ether’s illustration technicals converge astatine $2,100

The ETH/USD brace has dropped by implicit 10% successful the past 3 days, dipping beneath the cardinal enactment astatine $2,800.

Ether has not traded beneath this level since Dec. 3, 2025, and losing it suggests little ETH terms levels could beryllium successful the cards.

ETH is trading astir $2,700 astatine the clip of writing, a "do oregon dice level for bulls,” said Metacryptox, adding:

“A nonaccomplishment to clasp present confirms the bearish dominance, perchance opening the doors to the $2,500 mid-range.”

The $2,800 level coincides with the horizontal enactment of a descending triangle, which was breached connected Thursday.

The adjacent large enactment is $2,500, which coincides with the 200-week simple moving average (SMA), arsenic shown successful the illustration below.

Below that, the terms could driblet toward the measured people of the triangle astatine $2,150, oregon a 20% diminution from the existent level.

A bearish divergence from the relative spot index, which has dropped to 34 from 68 successful aboriginal January, shows weakening terms momentum.

Meanwhile, Veteran trader Peter Brandt said the “burden of proof” was connected the bulls aft the ETH/USD brace broke beneath the little trendline of a symmetrical triangle.

Brandt’s illustration points to much downside risk, peculiarly aft the terms dropped beneath the $2,800 mark.

The measured people of the pattern, calculated by adding the width of the triangle to the breakout point, is $2,100, representing a 22% diminution from the existent price.

As Cointelegraph reported, the country betwixt $3,000 and $2,800 was a cardinal enactment portion for Ether, and losing it has enactment ETH astatine hazard of further losses.

Ethereum mirrors past pre-bear marketplace setups

Onchain information besides reveals similarities betwixt the existent ETH marketplace setup and erstwhile carnivore cycles.

Ether’s nett unrealized profit/loss (NUPL) indicator has transitioned from “anxiety (yellow)” to the “fear portion (orange),” a presumption that is typically associated with the commencement of carnivore markets.

The NUPL measures the quality betwixt the comparative unrealized nett and the comparative unrealized nonaccomplishment of ETH holders.

In erstwhile marketplace cycles, the modulation to fearfulness has accompanied extended terms drawdowns, arsenic shown successful the illustration below.

Meanwhile, illustration technicals amusement that the 111-day moving mean (MA) is presently trading beneath the 200-day MA. Similar crossovers triggered the commencement of deeper ETH terms drawdowns during the 2018 and 2022 carnivore markets, arsenic shown successful the illustration below.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision. While we strive to supply close and timely information, Cointelegraph does not warrant the accuracy, completeness, oregon reliability of immoderate accusation successful this article. This nonfiction whitethorn incorporate forward-looking statements that are taxable to risks and uncertainties. Cointelegraph volition not beryllium liable for immoderate nonaccomplishment oregon harm arising from your reliance connected this information.

View source